| Investment opportunities with Chinese team discussed |
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| Friday,March 20,2009 Posted: 13:59 BJT(0559 GMT) |
| From:Business Recorder Article type:Reproduced |
ISLAMABAD (March 20 2009): A four-member delegation of China Mobile Communications Corporation (CMCC), led by its Vice Chairman called on federal minister for Investment Senator Waqar Ahmed Khan on Thursday, and discussed with him investment opportunities in Pakistan.
The Minister appreciated CMCCs investment in Pakistan and encouraged the brotherly relation between the two countries in terms of trade & Investment. He also emphasised on mutual co-operation on economic relations in all sectors of the economy. The minister ensured government of Pakistans support to Chinese investors in all sectors of the economy.
He further highlighted that the present goba1 recession has not affected Pakistan. Therefore, there is still a need for improvement in development of infrastructure, power, construction, telecom and agriculture sectors. The minister also explained the three issues ie law & order, political stability and good governance & transparency in Pakistan, for which the government is committed to improvement. A task force is also being established to address the security concern of the investors.
Waqar pointed out that the recent political decision of the government for the restoration of deposed judges has made major quantum lead in the political stability of the country. The Vice Chairman of China Mobile Communications Corporation shared two issues which ling for consideration with the government. Six percent reduction or import duties on telecom equipment, and the issue of LDI license etc.
He also highlighted that CMPak is a 100 percent subsidiary of China Mobile Communication Corp, the worlds biggest mobile phone carrier by users, acquired Pats Ltd; in 2007. Moreover, M/S CMPak, has invested more than US $700 million in the telecom sector in Pakistan and an additional US $800 million will be invested by the end of 2009.-PR
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