China’s Ambassador to Pakistan Yao Jing has said that more Chinese companies will invest in the Allama Iqbal Industrial City near Sahianwala interchange to boost economic activity and generate further employment.
The industrial city, which is part of the China-Pakistan Economic Corridor (CPEC), will amplify trade and investment both at national and international level. Other nearby industrial units will be incorporated in the industrial city upon completion of the project.
Talking to Mian Kashif Ashfaq, chairman of the Faisalabad Industrial Estate Development and Management Company (FIEDMC), in Islamabad, the Chinese ambassador said that they will establish export-oriented industries in Pakistan. He offered that the Tianjin University will cooperate with FIEDMC for establishment of a technical university.
On the occasion, Kashif Ashfaq invited the Chinese envoy to attend the inaugural ceremony of the Allama Iqbal Industrial City. Recently, Yao Jing had announced that China will establish factories in Gwadar in next phase of the multibillion dollars CPEC project.
The ambassador had said that China is waiting for Pakistan’s free zones policy as 19 joint projects will be initiated in Gwadar under the policy. He had said that they were spending $40 million per year to run the deepsea port in Pakistan.