Following the invitation of Mr. S.M Naveed, President Pak- China Joint Chamber of Commerce and Industry (PCJCCI), 8-member Chinese delegation from Sichuan province Hebei Chamber of Commerce arrived in Pakistan to take a review of joint venture opportunities in the fields of Automobiles innovative accessories, Town Planning, & vertical buildings infrastructure.
Mainly, the delegation was comprised of Mr. Gaoqiang, Mr. Xu Yingliang, Mr. Cao Wei, Mr. Yang Yongang and Mr. Cao Zaiqiang.
President PCJCCI, Mr. S.M Naveed, & Vice President Rana Mehmood Iqbal briefed the delegation regarding the country’s auto-sector, the demand of innovative energy efficient automobiles, and car accessories alongwith vertical buildings in Pakistan.
S.M. Naveed addressed that the automotive industry in the country is one of the fastest growing industries of Pakistan, accounting for 4 per cent of Pakistan’s GDP and employing a workforce of more than 1,800,000 people.
He also brought the increasing demand of automobiles, and demand for the car accessories to notice.
The lead of the delegation, Mr. Gaoqiang said that we are desiring to venture with Pakistan in mechanical parts and accessories, Electric motor parts & accessories and Electronic parts & accessories.
He says that China has extensive manufacturing facilities that could be relocated to the country based on the demand of accessories.
He also said that China is eager to make a heavy investment in the Pakistani auto-sector where the quality of vehicle and the price will boost the competitiveness in the market.
The process of putting the plant together is likely to be completed in almost 2 to 3 years.
S.M Naveed did inform the delegates about the automotive policy 2016-202. According to this policy, new investors in Pakistani auto-sector under the category ‘A’ shall be eligible for the Duty-free import of the plant and machinery on a one-time basis.
S.M Naveed told that the concessional rate of customs duty @10 % on non- localized parts and @ 25 % on localized parts for a period of 5 years for the manufacturing of Cars and LCVs, eligible to import 100 vehicles at 50 % of the prevailing duty for test marketing of the project.
Exclusive China Town in Lahore:
Chinese Delegates also shared their plan to build an exclusive China Town in Lahore to reside, Chinese experts and investors. He hoped that after the completion of that model China town, the design will be replicated for the local citizen too.
Rana Mehmood Iqbal added that the delegates that PCJCCI has already been taking initiatives to formate a model China Town that could attract more investment & promote ventures in real estate and construction sector.
He also said that we have to bring the unique Chinese vertical building designs before the people to create a need and demand for these designs. When people see something visible, they will be automatically attracted.
