China’s Shengtang Group eyes $10m investment in Pakistan

Mettis Link News reported that China's Shengtang Group has signalled interest in Pakistani opportunities worth $10 million. Possible projects range from electric vehicles and industrial development to energy, infrastructure, rail, tourism and urban planning. The discussions took place at a meeting with the Prime Minister's industries and production adviser, Haroon Akhtar Khan.

Khan said the government aims to turn Prime Minister Shehbaz Sharif's push for closer China ties into concrete gains by helping Chinese investors and making the business environment easier. He pointed to regulatory reforms meant to draw foreign capital and industrial growth, and named a land-lease model as a central tool for investors. He added that greater Chinese investment could speed up industrial expansion, bring in technology transfer and create jobs, and singled out electric vehicles as a promising field.

A proposed memorandum of understanding worth $10 million was among the cooperation avenues both sides explored. Khan also noted that around 40% of the many agreements between the countries, including joint ventures and MoUs, had reportedly reached the implementation stage. He assured the delegation of full government support and presented a commemorative souvenir, with Additional Secretary Humaira Zia Mufti, Joint Secretary Freedoon Akram Sheikh and Joint Secretary Amir Aqiq also present.