Chinese conglomerate keen to invest in maritime sector
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
In a major step towards strengthening industrial cooperation between Pakistan and China, a Chinese conglomerate, Shandong Xinxu Group, on Wednesday expressed interest in establishing a green ship-breaking yard and a maritime industrial complex in Pakistan.
The announcement followed a meeting between Prime Minister Shehbaz Sharif and Shandong Xinxu Group Chairman Hou Jianxin, who was accompanied by a high-level delegation.
A statement issued by the Prime Minister’s Office said that the two sides discussed expanding bilateral economic relations, with particular focus on sustainable development in Pakistan’s maritime and recycling sectors.
Pakistan signs MoU with Chinese shipping giant
PM Sharif welcomed the interest, reaffirming Pakistan’s commitment to enhancing economic cooperation with China and offering full government support for foreign investors.
“Pakistan is ready to take economic relations with China to new heights,” he said, adding that Chinese industries are invited to invest across various sectors.
He also reiterated the government’s resolve to facilitate investment through the establishment of Special Economic Zones (SEZs), offering every possible facility to foreign businesses.
Officials briefed the delegation on Pakistan’s untapped potential in ship recycling, fish processing, and agricultural product value chains such as date processing – all sectors in which Shandong has shown interest.
Chairman Hou thanked the federal government for its support and described the investment climate as increasingly favourable.
The meeting was attended by Minister for Maritime Affairs Junaid Anwar Chaudhry, and other senior government officials.
Reference Link:- https://www.brecorder.com/news/40378949
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
