| Paving the Way for Closer Hong Kong-Punjab Economic Collaboration In a move to facilitate closer bilateral economic ties and collaboration, Chaudhry Shafay Hussain, the Provincial Minister for Trade of Punjab, Pakistan, met on Wednesday with the Hong Kong General Chamber of Commerce during a virtual meeting, facilitated by the Hong Kong Trade Development Council.
The discussion focused on Punjab’s evolving investment landscape and pathways for enhanced cooperation between Hong Kong and one of Pakistan’s most populous and economically significant provinces.
Minister Hussain emphasized the strategic importance of the Hong Kong-Punjab partnership, framing it as a mutually beneficial conduit for businesses seeking entry into foreign markets. To attract foreign investment, the Punjab government is implementing a series of incentives, including the establishment of free trade zones and a significantly streamlined investment approval process.
The provincial government aims to secure federal approval for project investments within one month of submission, underscoring the province’s commitment to improving its attractiveness to investors. This proactive approach has already yielded a notable increase in Chinese investment, with a growing number of companies establishing manufacturing operations in the region.
Chamber CEO Patrick Yeung, Asia, Africa & Middle East Committee Chairman Dewan Saiful Alam, and Vice Chairmen Zaman Minhas Qamar and Elton Chan, discussed during the meeting the possibility of signing an MoU during the minister’s visit to Hong Kong in October.
|