The delegation comprised Richard Zhang, Assistant to President and Overseas Business General Manager, Andrew Chen, Project Manager and Xu Chang Hua, Manager, said BoI press statement. King Long Automotive of China is involved in the production of bus business of international standards and has recently entered the European market and has further strengthened its global presence, the press statement added.
The delegation members held detailed meeting with BoI officials. The meeting was chaired by Riaz-ul-Haq, Director General, BOI.
Riaz-ul-Haq gave a presentation to the delegation and discussed economic profile of Pakistan, various reforms and their implications on investment, liberal investment policy while FDI trends from China were highlighted in particular.
The delegation was informed that currently over 60 Chinese companies were successfully operating in key economic sectors of Pakistan, the major ones being, China Mobile in Telecommunications, Pak-China Investment Company in Financial Services, Huawei Technologies Co. Ltd. in Information Technology, China National Machinery Import & Export Corp. in mining and explorations and China State Construction Engineering Co. in construction of 7 Star Hotel in Pakistan. (Centaurus in Islamabad .....www.thecentaurus.com)
During the discussion delegation was also informed about the China specific economic zones and the incentives it offers to the investors, including 5 year tax holiday and 100% depreciation allowance.
The Chinese delegation intends to start a CKD manufacturing project in Pakistan in which the assembly plant for the manufacturing of buses would be setup in accordance with the local needs. For this project, the Group has already purchased substantial land in the national industrial zone near Rawat.
Haq assured the potential investors of due assistance and support on the part of ID&BOI.
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Details about the company can be read at www.king-long.com.cn
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