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| January 28, 2002 | Monday | Ziqa’ad 13, 1422 |
Chinese firms offer investment in herbal medicine
BEIJING, Jan 27: At least 16 major Chinese pharmaceutical companies have offered to invest in Pakistan for the development of traditional herbal medicines.
Speaking at a seminar held at Pakistan Embassy to introduce the opportunities being provided to foreign investors, the representatives of the companies said they were prepared to undertake joint ventures with Pakistani businessmen to set up medicine production plants at the export processing zones.
They said they considered Pakistan an ideal place for reprocessing and manufacturing of the Chinese traditional and herbal medicines. This, they said would enable them to export the medicines to Middle East, west Asia, Africa and Europe.
They said Chinese investors could cooperate with private sector in Paksitan to undertake joint ventures for manufacturing surgical and acupuncture equipment.
The deputy head of Pakistan Mission, Syed Hasan Javed, assured them that they would be provided assistance in establishing enterprises at the export processing zones.
Ambassador Riaz H. Khokhar thanked the Chinese companies.
Meanwhile, China has allowed foreign insurance firms to set up branches or solely-funded sub-firms to provide services to the enterprises and people.
Pakistani private sector in the insurance, finance, law and consultation fields can avail the opportunities, sources said.
—APP
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