By Karim Madad

A leading Chinese firm, Sinovac Global, has announced to invest $200 million in the Punjab province of Pakistan by setting up a factory to manufacture plasma medicine products.

Hibba Ali Gohar, the media and communication manager of the Pakistan-China Joint Commerce and Industry (PCJCCI), told WealthPK that Sinovac Global China Vice President Gao Qiang made the announcement at a meeting with S.M Naveed, Chairman of Special Economic Zones. The meeting took place at the PCJCCI Secretariat.

The spokesman said that SM Naveed, also a former president of PCJCCI, said that the Punjab chief minister had promised Sinovac Global to provide land to it on a priority basis in Industrial Estate Faisalabad.

He said that all the required facilities would be provided to the company in Punjab. He added that the project would not only benefit Punjab but the whole of Pakistan as it would be carried forward on a fast-track basis to ensure early completion.

“We thank Sinovac Global for supplying vaccines to Pakistan during the coronavirus pandemic. Planning a factory to manufacture plasma medicine products in Punjab is a big step. We hope that this project will definitely help in saving the lives of people on a massive scale,” he said.

Gao Qiang said on the occasion that they were going to invest $200 million, equivalent to about Rs45 billion, in Punjab by setting up a factory to manufacture plasma medicine products in Punjab.

It will also export items worth $500 million. “This project will create new employment opportunities and will become a new example for Pakistan-China friendship,” he said.

Salahuddin Hanif told the meeting that there was a dire need to take notice of the resources and provide maximum support to the developers in order to succeed and achieve their targeted goal.

He said that Pakistan could benefit from the experience of China, which had drawn the arbitration rules from the west. “I feel so proud that special economic zones are flourishing this way under the leadership of S.M Naveed and definitely open up new vistas of opportunities for the business community as well,” Hibba Ali Gohar told WealthPK quoting Mr Hanif as saying.

Credit : Independent News Pakistan-WealthPk