LAHORE: The positive impact of the China-Pakistan Economic Corridor (CPEC) is likely to benefit the construction sector of Pakistan in the near future as Chinese delegations are frequently meeting businessmen here to discuss the growing demand for construction and how to meet it.
“Chinese entrepreneurs are encouraged to find tremendous possibilities of investment and joint ventures in Pakistan in the field of construction,” said Xiaoming Cheng, head of the delegation that visited the Pak-China Joint Chamber of Commerce and Industry (PCJCCI) offices.
“This is time to transform the historic ties into a thriving trade and economic relationship. I invite members of PCJCCI to visit Shouguang to see our innovative production facility that we wish to relocate partially to Pakistan due to rising labour costs in China,” he said.
The delegation reviewed joint venture opportunities in the construction sector that would support related industries including cement, iron, steel, timber, marble, plastic, furniture and electrical appliances.
PCJCCI President Shah Faisal Afridi said, “Introduction of cost-effective, space efficient and environmentally friendly Chinese construction and building material can bring about a revolution in Pakistan’s construction sector.”
He told the delegation that the construction industry in Pakistan was the second largest after textile and was one of the major sources of employment generation. “The industry still has a huge untapped potential due to lack of latest infrastructure.”
Published in The Express Tribune, May 29th, 2015.
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