More Chinese Cos ready to invest in Pakistan: Envoy

TFD Report

LAHORE: Chinese Ambassador to Pakistan, Nong Rong said group of additional Chinese companies are ready to invest billions of dollars in various sectors of Pakistan that will see an improvement in Pakistan’s economy.
He expressed these views during his visit to the $60 million Challenge Textile Factory on Lahore-Multan Road where he was briefed by Karen Chen, Managing Director of the company.
Mr. Nong Rong said Pakistan and China are not only neighbors but also brothers who after the initiation of China-Pakistan Economic Corridor, Pakistan has gained historical significance and Chinese companies’ investment in Pakistan is likely to create thousands of jobs.
Talking on the occasion, Chinese Ambassador Nong Rong said that Pakistan and China are not only neighbors but also brothers and after C-Pack, Pakistan has gained historical significance and Chinese investment will create thousands of jobs in Pakistan.
He said that with the resumption of export of textile products from the factory, Pakistan’s foreign exchange reserves will also increase.
Nong Rong further said: “The 70-year history of the diplomatic relations between China and Pakistan is also a history of the two peoples treating each other heart-to-heart, as brothers and sisters. We always say China-Pakistan friendship is higher than the mountains, deeper than the sea, and sweeter than honey. We firmly believe that Pakistan is a good friend, a good neighbour, a good partner, and a good brother. The Chinese martyrs who died in Pakistan to build the Karakoram Highway, the Pakistani police who sacrificed to protect the Chinese Consulate General in Karachi. These ordinary people with extraordinary stories all contribute to the shaping of China-Pakistan friendship.”
He said that in the cooperation of the social sector under the framework of the China-Pakistan Economic Corridor, the two sides have specially formulated a scholarship programme for Pakistani students, which will provide more opportunities for outstanding youths of Pakistan to study in China and cultivate talents for the development of Pakistan.
The Chinese Ambassador visited various sectors of the textile factory and appreciated the arrangements made.
Karen Chen, Managing Director, Challenge Group, briefed the Chinese Ambassador on this investment in the textile sector. Employees have been provided with good pay as well as transport, food and accommodation. “After the $ 60 million Chinese investment, our group will now invest another 150 150 million, and this company employs 3,000 people,” said Karen Chen whose number will soon reach five thousand employees.
He said that land has been purchased for Challenge Fashion Export Park on Lahore-Kasur Road and work on it will be started soon and after construction of this fashion export park, 20,000 more jobs will be created in Pakistan. Karen Chen told the Chinese ambassador that the Pakistani people are very good and that is why the company is doing well today.

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