Delegation from China to do investment in construction sector

Lahore, May 28, 2015 (PPI-OT): Introduction of Cost effective, space efficient and environment friendly Chinese building and construction material can bring a revolution to the Construction sector of Pakistan. It was stated by Mr. Shah Faisal Afridi, President, Pak-China Joint Chamber of Commerce and Industry (PCJCCI) while addressing a 4-member Chinese delegation headed by Mr. Xiaoming Cheng Board Chairman, Shandong Building Materials, group, the other members were Mr. Zhang Pei Hao, GM Marketing, Mr Tony Hu, Sales Manager and Mr. Xiao, Vice President Yantai Chamber of Commerce and Industry.

The Delegation visited PCJCCI in the leadership of upon invitation of Mr. Afridi to review joint venture opportunities in the construction industry that would further supplement other related industries such as such as cement, iron, steel, timber, wood, marbles, tiles and stones, plastics, fibres, furniture and electrical appliances.

Welcoming the Chinese delegation, President PCJCCI, Mr. Shah Faisal Afridi told that the construction industry of Pakistan was one of the prime source of employment generation in Pakistan and the second largest industry of Pakistan followed by Textile Sector, which is providing jobs to millions of unskilled, semi-skilled and skilled work force. But, the industry still has a huge un-tapped potential due to lack of latest infrastructure needs in Pakistan, he added.

Referring to a World Bank study, Mr. Afridi speculated that the growth in the construction industry of Pakistan this year would be higher than the previous year due to increased foreign investment and the improved law and order situation that is helping the industry to grow at a faster pace.

He mentioned that this year the construction industry grew by 11.3 percent against the set target of 5.7 percent. It added the share of the industry in GDP at 2.4 percent by raising the annual growth to over 10 percent because of the growth in construction industry.

Faisal Afridi suggested that the need of the hour is to give a fresh blow from foreign technology-based state of the art housing and construction techniques. He cited the reason for this influx is the sky- rocketing and unabated prices of conventional houses which are becoming out of the reach o common man. Shah Faisal Afridi was hopeful that the visit of Chinese entrepreneurs would produce fruitful results as it would help in exploring potential areas of mutual collaboration.

Mr. Xiaoming Cheng, head of the visiting delegation, while addressing PCJCCI members said that Chinese entrepreneurs were encouraged to find out tremendous possibilities of investment and joint ventures in Pakistan in the field of construction industry. This is the time to transform the good historic ties into thriving trade and economic relations between the two countries. He further invited the members of PCJCCI to visit Taitou Town, Shouguang, China where he has developed innovation production facility centre that he want to relocate partially to Pakistan due to rising labour costs In China.

Mr. Zhang Pei Hao, GM marketing, Shandong building group said that as per market research conducted by our team, there is a huge untapped potential that requires concerted efforts along with giving special prices for widespread introduction.

He also presented proposals for joint ventures in building materials, PPR pipes and fittings, interior designing, electrical equipment including elevators and excavators, mobile and mobile accessories, innovative and smart lifestyle products, security solutions and tourism etc. Business community of both countries held B2B meetings and shared ideas on further strengthening bilateral business relations.

For more information, contact:
Wardah Ali Gohar
Media Manager
Pakistan China Joint Chamber of Commerce and Industry (PCJCCI)
Mega Tower, 309 – 6th Floor,
Main Boulevard, Gulberg II,
Lahore, Punjab – Pakistan
Tel: +92-42-35777460-02, +92-42-37032203, +92-42-35874353
Fax: +92-42-35777524
Cell: +92-324-4925611