LAHORE, Sep 20 (APP): Punjab Department of Industries and Commerce and Hong Kong Trade Development Council have signed a cooperation agreement to promote investment in Punjab.

Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain and Hong Kong Country Head Wahab Tariq Butt signed the agreement here at PSIC House on Saturday Under  the agreement, both sides will facilitate investment promotion in Punjab, exchange trade delegations, organize business seminars, and strengthen  relations among investors from Hong Kong, China, and other regions. Wahab Tariq Butt has been appointed as coordinator for enhancing regional investment ties.

Speaking on the occasion, Provincial Minister Chaudhry Shafay Hussain said that accelerating  industrialization in Punjab and attracting new investment is his mission. Punjab offers a highly conducive environment for investment, which has made it the first choice of investment for both domestic and foreign investors.

Many international companies are rapidly establishing industrial units in Punjab. Foreign investments is not only creating employment opportunities but also transferring advanced technologies to the province,he added.The

 minister termed the cooperation agreement between the Department of Industries and Commerce and the Hong Kong Trade Development Council as a positive step forward. Implementation  of this agreement will bring further investment from China, Hong Kong, and other regional countries,he added.

The provincial minister said that foreign investment is increasing in sectors such as textiles, agriculture, information technology, energy, electric vehicles, and  International companies are setting up assembly and manufacturing plants in Punjab. In collaboration with the Hong Kong Trade Development Council, we will attract additional investment to Punjab’s Special Economic Zones, he concluded.