Chinese company to set up investment bank in Lahore

[Naveed Yaseen]

LAHORE: A Chinese firm from Sichuan, Punjab’s sister province, has planned to set up an investment bank in Lahore in collaboration with a Pakistani company with an initial investment of $30 million, which will help promote investment in the two provinces.

The bank will also provide investment and consultancy services to Chinese and local companies interested in investment in Punjab.

This was announced in a meeting between representatives of Chengdu He-Hong Investment and Management Company, headed by its General Manager Hui Jinsong, and the Punjab government.

Punjab Chief Minister’s Consultant on Economic Affairs and Punjab Board of Investment and Trade Vice Chairman Pir Saad Ahsanuddin represented the provincial government. Punjab-China Bureau CEO Dr Zafaruddin Mehmood was also present. Members of the Chinese delegation included Dr Song Zhihui, Hu Honghan, Tang Hongyu and Li Xiaomei.

Saad informed the Chinese delegation that vast opportunities of foreign investment were available in Punjab and Chief Minister Shahbaz Sharif was taking special interest in promoting trade and investment activities with China. He mentioned that the chief minister’s visit to China was aimed at increasing bilateral cooperation.

The delegation members said they had identified areas of education, agriculture, health and infrastructural development for investment. They assured that they would encourage other Chinese companies, especially from the Sichuan province, to invest in Punjab as it was a safe place for foreign investors.

Saad assured the Chinese that their investment would be fully secured and all necessary facilities and cooperation would be provided to them.

http://www.thenews.com.pk/daily_detail.asp?id=200050