| Chinese investors keen to transfer technology |
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| Tuesday,May 05,2009 Posted: 18:11 BJT(11 GMT) |
| From:The News Article type:Reproduced |
Pak-China Investment Company has sought Lahore Chamber of Commerce and Industry’s support for identification of business opportunities, development of feasibilities, searching joint ventures and execution of projects for channelling Chinese investment into Pakistan.
This was the upshot of a presentation given by Chen Jiabo, Managing Director Pak-China Investment Company, to LCCI members at the Chamber on Monday. Chen Jiabo said Pak-China Investment Company was striving for collaboration between Pakistani and Chinese entrepreneurs for transfer of technology and for promoting trade. But he emphasised that security concerns of potential Chinese investors should be mitigated on priority basis.
He said scores of Chinese companies wanted to transfer technology in areas where ample raw material was available but because of absence of any such project the Chinese were reluctant. “Over 70 Chinese companies are presently operating in Pakistan, but none of them is in the industrial sector as all are busy in infrastructure-related projects.”
He said Pak-China Investment Company was working with an objective to provide complete financial solutions in specialised areas including power, engineering, telecommunications, construction and infrastructure, mergers and acquisitions, debt syndication and private equity placements.
Initial authorised capital of the company is Rs12.14 billion (US$200 million), making it the largest joint venture investment company in Pakistan. LCCI Senior Vice President Tahir Javaid Malik said China was fast becoming a resource base for Pakistani companies as Pak-China Investment Company was providing momentum to the growing trust between business communities of the two countries in trade and investment matters. “Pakistan can benefit from China in areas of textiles, engineering, shipbuilding, real estate and automobiles. China has capital and technology and can become one window economy for Pakistan.”
He said in the presence of Pak-China Investment Company, Pakistan’s business community should interact more frequently with Chinese companies and seek investment opportunities as that was a country that Pakistan could always bank on.
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