Punjab sees fresh growth prospects with Chinese funding

China to invest in Pakistan's first pet food manufacturing facility in Punjab
An undated image. — Shutterstock
An undated image. — Shutterstock

In a significant meeting for the industrial landscape of Punjab, Minister for Industries and Commerce Chaudhry Shafay Hussain met with Chinese Consul General Zhao Shiren at the Chinese Consulate.

In order to strengthen economic cooperation and protect the safety of Chinese nationals, the conversation focused on current and potential Chinese investments in Punjab.

By pointing to the opening of a mobile production plant in the Faisalabad Industrial Estate by a well-known Chinese manufacturer, Shafay demonstrated the increasing interest of Chinese businesses in Punjab's industrial sector.

A lithium battery plant is also scheduled to be launched by a Chinese company, meeting the growing demand for renewable energy sources.

Additionally, a Chinese investment group has indicated interest in establishing an organic fertiliser plant and Pakistan's first pet food manufacturing facility in the province.

The minister emphasised the provincial government's dedication to creating a safe and welcoming environment for foreign investors by assuring Shiren that Chinese investors and their projects are completely protected in Punjab.

Within 15 days, a community centre will be established, and the industrial estate's security wall under FIEDMC will be finished to improve security.

Shiren confirmed that Chinese businesses are growing their operations in Punjab, praising the province's investment-friendly environment.

He declared that a delegation would soon tour Quaid-i-Azam Business Park and FIEDMC to investigate prospects in the pet food industry.

This move highlights Punjab's expanding economic ties with China, which are expected to propel regional industrial and economic expansion.