President woos China’s corporate giants to invest in Pakistan

President Asif Ali Zardari has invited China’s industrial giants and large business groups and companies to take benefit from Pakistan’s investment-friendly and incentives-driven policies by investing in diverse fields, particularly in energy, infrastructure, communication and agriculture sectors.
President Zardari was talking to the heads and Chief Executive Officers (CEOs) of China’s major industrial and corporate sector companies, groups and consortiums, who separately called on him here on the sidelines of the first China-Eurasia Expo and discussed the prospects and opportunities of trade and investment in Pakistan.
The President during his meeting with Chairman TBEA – which is the fastest developed company in China’s power transmission industry, appreciated the company’s interest in Pakistan and its $ 3.5 billion agreement with Pakistan’s NTDC (National Transmission and Dispatch Company) and China Development Bank (CDB) to supply transmission equipment to Pakistan.
The President said that the present government of Pakistan in order to improve the country’s energy resources was focused on building mega hydropower projects in Diamer Bhasha and Bunji.
Development of Thar Coal field and electricity generation through coal gasification is also on cards, he said and added that Pakistan needs to revamp its existing transmission lines as well as building new ones for efficient transmission and reducing line losses.
President Zardari during his meeting with Beiqi Foton Motor Company Ltd – a state-owned holding listed company in Beijing – mentioned the all weather friendship between Pakistan and China and said the two sides were striving to build this into a stronger economic partnership.
He said, “The enterprises of our two countries will play a vital role in enhancing such cooperation.”
The President said Pakistan is an investment friendly country and offers business opportunities in variety of areas including infrastructure and public transport.
Since the Foton Motors owns the production bases of the entire range of vehicles and parts in nine provinces of China, the President appreciated the company for exploring business opportunities in Pakistan in Public Transport sector, with special reference to the recent agreements to supply 400 buses to Lahore and 2000 buses to Karachi.
The President said as there was a need for upgrading the existing transport network in mega cities of Pakistan, Foton Motors would be welcomed and encouraged to focus on other cites as well to overcome commuters transportation issues and to improve inter and intra city connectivity.
He said as the present government in Pakistan places great importance on environmental protection, the Foton’s focus on production of buses powered by environment friendly fuels is laudable. The President invited the Foton Motor to establish its plant in Pakistan for the manufacturing of CNG buses and other vehicles.