Foreign investment: China prepared to invest in viable projects

Delegation head Li says country can assist Pakistan in hydel power plants

FAISALABAD: There is no dearth of financial resources and China is fully prepared to invest in viable projects in auto parts, building material, steel mill, mining and energy, said Li Pengfie, head of the Chinese delegation that visited Faisalabad Chamber of Commerce and Industry (FCCI) to explore investment opportunities in the city.

He said that during the last 60 years, China has made progress due to its trade policies.

“Our President Xi preferred peace instead of war and chose to concentrate on the socio-economic development of the country,” said Li. “We fully exploited modern scientific inventions to give a quantum jump to economic development and this is the secret of our progress.”

Li said the objective of the visit is to identify projects in which they could immediately start work on, adding that China has expertise in hydel power plants and is ready to assist Pakistan.

FCCI Vice President Jamil Ahmed welcomed the Chinese delegation and said that Faisalabad Industrial Estate Development and Management Company has allocated space in M-3 Industrial city for direct foreign investment.

Ahmed hoped China will help Pakistan explore the 500 million tons of iron deposits in Khushab. Similarly, work on recently detected high quality iron ore from Rajoa would also be expedited so that a mini steel mill could be established in collaboration with Chinese companies.

Published in The Express Tribune, November 1^st, 2015.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.