By Commerce Reporter
LAHORE: Pakistani and Chinese officials review $200m SEZ project in Lahore, promising jobs, exports, and new investment amid strengthening bilateral economic cooperation.
Pakistan’s Ambassador to China Khalil Hashmi, along with Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain, visited the under-construction Challenge Special Economic Zone to review ongoing development work.
Speaking on the occasion, Chaudhry Shafay Hussain said the first phase of the project, backed by $200 million in Chinese investment, is expected to be completed next year and will generate around 8,000 jobs.
He added that the government is extending full facilitation to Chinese investors, encouraging more companies to explore investment opportunities in Pakistan. He also revealed that a Chinese mobile phone manufacturing company is planning to establish a production plant in the country.
Prominent businessman Qamar Khan Boby, who has played a key role in bringing Chinese investment to Pakistan, said textile exports from the economic zone are expected to begin next year. He projected that within two years, value-added exports could reach $300 million while creating employment for up to 10,000 people.
During the visit, a new Memorandum of Understanding (MoU) was also signed between a Chinese investment firm and the Punjab government. The agreement was inked by Madam Liu, Director of the Chinese company, and Chaudhry Shafay Hussain.
The ceremony was attended by Chairman of Challenge Group Mr. Hong, Managing Director Ms. Karen Chen, Secretary Industries and Commerce Omar Masood, Director General Punjab Board of Investment Dr Sohail Ahmed, and LESCO Chief Executive Engineer Muhammad Ramzan Butt.
