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Recent visit of Punjab Chief Minister Maryam Nawaz to China has been regarded as a success where over Rs. 13 billion ( around $50) investments for Punjab have been envisioned, According to Express News.
It was a very landmark event which brought a great boost in the economic growth of Punjab and international partnerships. While attending an investment conference in China, the officials of the Punjab government signed agreements with several Chinese companies in the IT sector, environment and green energy sectors.
Another notable highlight of the visit was an announcement about the prospective investment in Punjab by Chinese funding company Gobi Partners, which plans to set up a $50 million investment fund. The fund now stands at about 13.88 billion rupees, and is meant to encourage entrepreneurship among startups and SMEs of the region.
Apart from this, an important MoU was also signed by the Solar N Plus and the Punjab government to develop the solar technology. At the same time, Gobi Partners signed an agreement with the Bank of Punjab regarding the development of financial systems of startups and SMBs.
They are expected to enable funding for businesses through agreements regarding loans, equity investments, financial services, and learning from successful programme operators everywhere.
As mentioned in the announcement, Gobi Fund will become a major point in enhancing the stability of businesses in Punjab, their sustainable development, as well as in the foundation of the province as a leader in technology and entrepreneurial activity in the region.
The conference also gave insights into the business extravaganza being offered in Punjab through comparative economic policies including tax holidays and breakages, special economic zones among others that make Punjab the hub of investment.
Moreover, the Punjab government held talks with Chinese firms in order to establish mutually beneficial cooperation in the long term. In the course of these negotiations, the Chinese side was to undertake to work on new forms of solar energy projects in Punjab for the province’s green energy map.
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Recent visit of Punjab Chief Minister Maryam Nawaz to China has been regarded as a success where over Rs. 13 billion ( around $50) investments for Punjab have been envisioned, According to Express News.
Pakistan imported 13 GW solar panels in the first half of the current fiscal year to become the third largest purchaser of Chinese solar panels.