Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Pakistan hopes to see Chinese invest US$50b
By Wang Yanlin |
June 19, 2009, Friday
|
Print Edition
Print Edition
PAKISTAN needs more trade than aid to boost its economy and expects China's investment in the country to reach US$50 billion in five years, Federal Minister for Investment Waqar Ahmed Khan said yesterday in Shanghai.
"Nothing is abundant in Pakistan and everything is in shortage," Khan said. "The huge demand guarantees high profit of an average 30 percent return in doing business in our country."
The Pakistani minister said as sales in the United States and European countries fell sharply amid the global recession, Pakistan provided an alternative for Chinese trade and investment. He promised that his government will ensure the country is safe for investors.
"We promise to make Pakistan a politically stable, economically prosperous and investment friendly country. We hope investors should have a long-term view," said Khan, who stressed not a single Pakistani bank collapsed during the global financial crisis because of strict supervision carried out by the government.
He said trade between Pakistan and China grew to around US$6 billion last year from just US$1 billion in 2000, and he forecast the volume to rise following a free trade agreement that was signed in February this year.
Khan said nearly all sectors in Pakistan are open for Chinese investment, in particular infrastructure, including roads, highways, dams and housing.
China Mobile will invest US$500 million to build a telecommunications network in Pakistan this year.
Khan was in Beijing and Shanghai where he met executives of more than 20 companies, including China Gezhouba Group Corp and China Mobile. He will also visit Hong Kong next to seek opportunities for cooperation.
"Nothing is abundant in Pakistan and everything is in shortage," Khan said. "The huge demand guarantees high profit of an average 30 percent return in doing business in our country."
The Pakistani minister said as sales in the United States and European countries fell sharply amid the global recession, Pakistan provided an alternative for Chinese trade and investment. He promised that his government will ensure the country is safe for investors.
"We promise to make Pakistan a politically stable, economically prosperous and investment friendly country. We hope investors should have a long-term view," said Khan, who stressed not a single Pakistani bank collapsed during the global financial crisis because of strict supervision carried out by the government.
He said trade between Pakistan and China grew to around US$6 billion last year from just US$1 billion in 2000, and he forecast the volume to rise following a free trade agreement that was signed in February this year.
Khan said nearly all sectors in Pakistan are open for Chinese investment, in particular infrastructure, including roads, highways, dams and housing.
China Mobile will invest US$500 million to build a telecommunications network in Pakistan this year.
Khan was in Beijing and Shanghai where he met executives of more than 20 companies, including China Gezhouba Group Corp and China Mobile. He will also visit Hong Kong next to seek opportunities for cooperation.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
