A leading Chinese company Guangzhou Rongshen commits $ 2 million investment in FIEDMC

LAHORE, June 24 (INP): One of the largest Chinese manufacturers of fragrance and perfume Guangzhou Rongshen Trading Company Monday ,following the attractive package of incentive offered by the Prime Minister Imran Khan announced to invest US $ 2 million in chemical sectors to further explore direct foreign investment avenues in Pakistan.

Ivan Jiang Chairman Guangzhou Rongshen Trading Company signed memorandum of understanding with Mian Kashif Ashfaq Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC).

Ivan Jiang talking to media after signing MOUs said legal framework in Pakistan is sound and comprehensive. Pakistan government had already played good role to provide business good environment and security to Chinese companies. Chief Operating Officer, FIEDMC Aamir Saleemi was also present.

He said they are an international chemicals supplier and his company intends to explore business and investment opportunities in Pakistan which has become an important investment destination for the Chinese businessmen and entrepreneurs after the launch of China Pakistan Economic Corridor (CPEC).

Expressing confidence into the current economic situation in Pakistan, he said Pakistan’s economy was now gearing up and there were more business and investment opportunities for the Chinese companies.

Welcoming the Chinese investors Mian Kashif Ashfaq said the government is focusing on export-oriented sector by reducing input costs and increasing productivity for attracting efficiency-seeking investment into export-oriented production and reducing relative “disincentive” for exporting activities.

He said FIEDMC, the largest state of the art industrial estate in Pakistan is providing all the best facilities to foreign and local companies at par with international standard and the good thing is that vision of Prime Minister Imran Khan is crystal clear and vivid which would help Pakistan converting into a dynamic and efficient domestic market and a globally-competitive export-driven economy. “The government has given huge incentives to the local industries for industrial growth, including to textiles and manufacturing sectors to boost the country’s exports for earning more revenue,” he concluded.

INP/AJ