LAHORE – Chinese companies have expressed interest in investing in Punjab’s electric vehicle (EV), information technology, tourism, agriculture and other sectors, with plans to establish electric bus and truck manufacturing facilities in the province.
The interest was expressed during a meeting between Punjab Minister for Industries and Commerce Chaudhry Shafay Hussain and a 20-member high-level delegation of the Pakistan-China Business Forum in Lahore on Friday.
The delegation included representatives of major Chinese companies operating in the electric vehicle, IT, tourism, agriculture and other sectors.
Former senator Lieutenant General (retd) Abdul Qayyum, Pakistan-China Business Forum Co-Chairman Ijaz Sheikh, Punjab Board of Investment Director General Dr Sohail Ahmed, Punjab Asia Investment and Cooperation Office head Wahab Tariq Butt and other officials also attended the meeting.
During the discussions, the two sides explored investment opportunities for Chinese companies in various sectors of Punjab’s economy.
Wei Linzhui, director of the forum’s Beijing office, said Chinese investors were interested in establishing electric bus and truck assembly and manufacturing plants in Punjab. He added that Chinese companies were also prepared to invest in the province’s IT sector.
He said the forum wanted to establish a China Pavilion on 100 kanals of land to showcase Chinese products in Punjab. The delegation was also exploring the possibility of setting up an information technology university in Gujrat.
Chaudhry Shafay Hussain said several Chinese companies had made fresh investments worth millions of dollars in Punjab over the past two and a half years.
He added that chip-frame manufacturing was set to begin in Punjab for the first time in the country’s history. Meanwhile, a factory being established by Chinese mobile phone company Wei Wo in Faisalabad Industrial Estate was nearing completion.
The provincial minister said the Punjab government, under Chief Minister Maryam Nawaz’s leadership, was prioritising the development of the electric vehicle sector. Imported electric buses were already operating in several cities, while numerous electric motorcycle manufacturing plants had been established over the past year, with more companies planning to set up production facilities.
He said the expansion of electric motorcycle use would help reduce fuel consumption and benefit the public.
The minister also identified electric vehicle charging stations, information technology and tourism as promising areas for Chinese investment. He assured the delegation that the provincial government would provide the land required for the proposed China Pavilion.
Highlighting Punjab’s industrial infrastructure, Shafay Hussain said the province’s special economic zones offered facilities meeting international standards for investors.
He added that a modern community centre equipped with advanced facilities was being developed for foreign investors in Faisalabad’s special economic zone.
The minister further announced that Faisalabad would get its first expo centre, to be constructed on 50 acres. Discussions on the project had already taken place with the federal government, and construction was expected to begin by the end of this year.
He said the provincial government had also reduced plot prices in industrial centres to encourage the establishment of new industrial units.
Emphasising the wider benefits of Chinese investment, Shafay Hussain said such ventures were facilitating technology transfer to Punjab. He described China’s development as a role model and said Pakistan could achieve progress by benefiting from Chinese technology.
The minister also stressed the need for initiatives to promote tourism between Pakistan and China.
Lieutenant General (retd) Abdul Qayyum praised Shafay Hussain’s efforts, saying his commitment and initiatives had contributed to an increase in domestic and foreign investment in Punjab.