Islamabad: A Chinese company, Shandong Xinxu Group Corporation, has announced plans to construct an industrial park in Pakistan. During a meeting, the company’s chairman, Hou Jianxin, discussed the investment plans with Pakistan’s Commerce Minister, Syed Naveed Qamar.
Mr. Jianxin stated that the proposed industrial park would serve as a focal point for meeting the industrial requirements of both Pakistan and China. He added that the company is eyeing this project to take advantage of the Shandong government’s decision to shift its industry to Pakistan.
Mr. Qamar welcomed the Chinese company’s investment plans, appreciating the Shandong government’s decision to transfer its industry to Pakistan. He noted that this development would attract foreign investment and create job opportunities for Pakistani people.
The proposed industrial park is expected to play a vital role in strengthening economic ties between China and Pakistan. It is a significant development in the ongoing collaboration between the two countries under the China-Pakistan Economic Corridor (CPEC) framework, which aims to improve infrastructure and promote economic development in Pakistan.
It is important to note that Pakistan and China have begun the second stage of CPEC, which focuses on enhancing the country’s agricultural foundation and industrial sector. China will aid Pakistan in transferring technology and equipment. For the latest Real Estate News and Blogs, visit Realtors blogs.