INP-WealthPk

Over 100 Chinese Investors Attend Industrial Expo 21

November 03, 2021

By Omer Bilal ISLAMABAD, Nov 03 (INP-WealthPK): Over 100 leading Chinese manufacturing companies showcased their products at the fifth edition of the three-day 'China-Pakistan Industrial Expo 2021', which concluded recently at the Royal Palm Golf & Country Club in Lahore. Products related to CNC machinery, construction, renewable energy, building material, agricultural machinery, plastic machinery, hardware, chemicals, automobiles, and parts were displayed at the show. Some companies virtually participated in the expo. The important feature of this year's expo was the participation of Shanghai Cooperation Organization (SCO) representatives. This is the first time that SCO representatives have taken part in any exhibition in Pakistan. Another main feature of the expo was the exchange of business-to-business (B2B) models and products between Pakistan and Chinese entrepreneurs. Speaking to visitors, Badaruz Zaman, Commercial Counsellor at Pakistan's Embassy in Beijing, said that Pakistan's economy was standing at a crucial vantage point with the potential to steer the nation towards an industrialized future underscored by economic prosperity. For this, he said Pakistan must attract new investments to help the country create jobs and foster economic growth. He said that China was the biggest foreign direct investment contributor in Pakistan and there was immense capacity for launching further bilateral investment endeavors. On the occasion, Chris Zhu, deputy general manager of Everest International Expo, said: "We used online-offline mode at the 2020 show, and it worked remarkably well. After many successful stories, now we managed and established high-quality B2B platform just to boost mutual economic and trade communications.'' The exhibitors were mainly from three areas of China, including Shandong and Henan provinces and the China-SCO Local Economic and Trade Cooperation Demonstration Area (SCODA). Henan is also China's major economic engine, an agricultural province, and an emerging industrial area. Fifty-five manufacturers from the province participated in the event, taking benefit of the fact that their products are already present in the Pakistani market, including automobiles. As many as 50 exhibitors from the Shandong province, one of the top three industrial provinces of China, also put up their products at the show. According to the expo organizer – Everest International Expo, the Pakistan Industrial Expo was first organized in 2017 with a commitment to strengthening the indigenous industry. The latest event was expected to attract more investments from China. The Board of Investment officials had an intense interaction with the Chinese entrepreneurs and apprised them of the incentives and facilities for boosting investment in Pakistan. They said China was the biggest FDI contributor and there was immense potential for launching further bilateral investment endeavors. The BOI officials appreciated and noted the suggestions given by the investors with the commitment to taking them up at the appropriate forums for consideration.