Islamabad: Federal Minister for Board of Investment, Privatization and Communications Abdul Aleem Khan announced a significant new investment by a Chinese business group led by Chairman Liangzhang Zhou of Hexing Electrical. The investment involves establishing a novel industry in Pakistan focused on the manufacturing of inverters and batteries, marking it as the first of its kind in the country.
According to Press Information Department, Mr. Zhou, accompanied by a delegation, presented their plans during a meeting with Minister Khan. The Chinese group’s commitment to Pakistan’s renewable energy sector underscores a strategic move to diversify its industrial presence and bolster economic ties between China and Pakistan.
Minister Khan expressed his enthusiasm for the initiative, highlighting the favorable investment climate and the potential benefits such as increased employment, export growth, and overall economic enhancement. He assured the delegation of exceptional investment facilities and emphasized the importance of the ongoing cooperation between the two nations, especially following recent high-level meetings that have fortified business relations.
The investment is seen as a direct result of strengthened bilateral ties and mutual trust, with other Chinese enterprises also engaging in joint ventures within Pakistan. Minister Khan pledged to facilitate these developments by involving relevant ministries and stakeholders to ensure the success of the venture.
In addition to the main investment announcement, the meeting also included briefings from other senior executives of the Hexing Group, including CEO Mr. Xu Guoneng and Director of Sales Mr. Ma Zuoteng, who shared further details on their investment strategy in Pakistan. Mr. Junaid Hussain, Director HR Europe for Hexing Group, discussed the proposed projects and activities planned by his group in the region.
The establishment of this industry is anticipated to set a precedent for future foreign investments and industrial development in Pakistan’s electrical and energy sectors, contributing significantly to national development.