June 03, 2008	Tuesday	Jamadi-ul-Awwal 28, 1429

ISLAMABAD, June 2: A three-member Chinese delegation from King Long Automotive Industry (KLAI) visited investment Division and Board of Investment (ID&BoI) here on Monday to explore ways for Completely Knock-Down (CKD) bus manufacturing in the country.

The delegation comprised Richard Zhang, Assistant to President and Overseas Business General Manager, Andrew Chen, Project Manager and Xu Chang Hua, Manager, said a BoI press statement.

King Long Automotive of China is involved in the production of buses of international standards and has recently entered the European market and has further strengthened its global presence, the press statement added.

The delegation members held detailed meeting with the BoI officials. The meeting was chaired by BoI Director General Riaz-ul-Haq, who gave a presentation and discussed economic profile of Pakistan, various reforms and their implications on investment, liberal investment policy, while foreign direct investment trends from China were highlighted in particular.

The delegation was informed that currently over 60 Chinese companies were successfully operating in key economic sectors of Pakistan, the major ones being, China Mobile in Telecommunications, Pak-China Investment Company in Financial Services, Huawei Technologies Company Limited in Information Technology, China National Machinery Import & Export Corporation in mining and explorations and China State Construction Engineering Company in construction of 7-star hotel in Pakistan.

During the discussion delegation was also informed about the China-specific economic zones and the incentives it offers to the investors, including a 5-year tax holiday and 100 per cent depreciation allowance.—APP