Shengtang Group eyes $10m MoU in Pakistan

According to a statement from the Ministry of Industries and Production issued on Monday, a delegation from China's Shengtang Group is keen on a $10 million memorandum of understanding with Pakistan. The group also wants to examine investment options spanning industrial development, infrastructure, tourism, electric vehicles, railways, energy and urban development. The delegation met Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan.

Adviser Haroon Akhtar Khan said the prime minister's push for closer ties with China was producing practical results, and directions had been issued to ease the path for Chinese investors. New business-friendly rules are under way, and he pointed to the land-lease model as a key facilitation tool. He urged Chinese investors to seize emerging opportunities, saying Pakistan had shown reliability and resilience on the global stage.

He noted that joint ventures and MoUs between the two countries have been signed, and approximately 40% of them have reached the implementation stage. He added that more Chinese capital would help expand industry, stimulate economic activity, transfer technology and create jobs. He described the relationship between Pakistan and China as exceptionally close.