The Research & Development wing of Faisalabad Chamber of Commerce & Industry (FCCI) is encouraging local industrialists to launch Joint Ventures with Chinese Investors and a proposal was under consideration currently to set up an office in China.

This was stated by Engineer Ahmed Hassan, Former Vice President FCCI & Chairman FCCI Standing Committee on R&D.

Talking to an eight-member delegation of Chinese Investors here thursday, he said that “One Belt, One Road” of China was a mega infrastructure initiative to enhance road connectivity across the world. In this regard, six corridors would be made in different continents, including CPEC in South Asia. “This project will provide easy access to the 72 per cent population of the world,” he added.

Related Story: Inconsistent Policies keep Chinese Investors at Bay.

Hassan said that the industrial sector of Pakistan was using outdated technologies which were abandoned by the developed countries. “In this age of competition, we have to enhance quality with minimum production cost. Because of the old technology, our cost of production has made our surplus production noncompetitive in the international markets. The FCCI is constantly focusing on promotion of new technologies. The R&D section has floated a proposal to encourage maximum joint ventures based on latest and cost effective technologies. It will not only have a trickle down impact to downstream the industry but also help our industrialists improve their income and profit,” he added. 

Pakistan is an agriculture country but its per acre yield is almost half as compared to the production in China. Use of old technology in the agriculture sector is also based on excessive and abuse of irrigation water, he said. He mentioned permanent tunnels for agriculture purposes in China, saying we are still using make-shift arrangements for tunnel farming. He said that Pakistan could strengthen its agriculture sector through Chinese experience and starts exporting value added agriculture products which are available in abundance in Pakistan. Regarding Special Economic Zone, Hassan said that a special economic zone had already been established at M3 Industrial Estate where new units were being established. 

He said that Pakistan could strengthen its agriculture sector through Chinese experience and start exporting value added agriculture products, which are available in abundance in Pakistan.

In this sector, we should also launch Joint Ventures for the benefit of the two countries.