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‘Chinese Cos keen to invest’

ISLAMABAD: Chinese Ambassador to Pakistan Yao Jing on Monday said that more Chinese companies will invest in Allama Iqbal Industrial City, media reported.

Talking to Faislabad Industrial Estate Development and Management Company (FIEDMC) Chairman Mian Kashif Ashfaq, who called on him in Islamabad, Yao Jing said that they will establish export-oriented industries in Pakistan.

Speaking on the occasion, he offered that Tianjin University will cooperate with FIEDMC for establishment of a technical university.

Meanwhile, Mian Kashif Ashfaq invited the Chinese envoy to attend the inaugural ceremony of Allama Iqbal Industrial City.

Earlier on October 4, Chinese ambassador to Pakistan Yao Jing had announced that China will establish factories in Gwadar in next phase of the multibillion dollars China-Pakistan Economic Corridor (CPEC) project.

Addressing a session on CPEC under Council on Foreign Relation, Yao Jing had said that Beijing was waiting for Pakistan’s free zones policy and added that under the policy as many as 19 joint projects will be initiated in Gwadar. He had said that they were spending $40 million per year to run Gwadar port.

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