Gwadar land awaits Chinese investment, delegation told

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ISLAMABAD, Jun 7 About 100 acres of land in the Gwadar industrial estate earmarked for Chinese investment still remains underdeveloped.Minister of State for Industries and Production Ayatullah Durrani told a delegation of the China-Kashgar government here on Monday that Chinese investments were awaited by the government.

It is believed that the reluctance of Chinese investors to come to Gwadar is because of the law and order situation, energy crisis and inadequate facilities.

Ways of enhancing trade relations between the two countries were discussed during the delegation's visit to the Engineering Development Board.

EDB chief executive officer Asad Elahi gave a detailed presentation on investment potentials in Pakistan.

He said there was potential for Chinese investment in sectors like iron and steel, automobile, machinery, power plants, advanced medical equipment, food processing, dairy products, gem and jewellery and marble and granite.The EDB offered to share with the delegation sectoral reports prepared by it.

The leader of the delegation, Mr Rezfrekut, said his administration would encourage Chinese entrepreneurs to take advantage of the offer made by Pakistan.

He invited Pakistani businessmen to participate in the sixth Kashgar trade fair opening later this month.

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