Rawalpindi: The China Road and Bridge Corporation (CRBC) inked a memorandum of understanding with the Rawalpindi Chamber of Commerce of Industry (RCCI) for exploring the investment opportunities existing in Rashakai Especial Industrial Zones being developed under China-Pakistan Economic Corridor (CPEC) project.

Deputy General Manager CRBC Lin Jun and President RCCI Malik Shahid Saleem signed and exchange the documents at a ceremony held at a local hotel in Islamabad. Chinese Ambassador Yao Jing, Advisor to Prime Minister on Textile, Commerce, Industry and Production and Investment, Abdul Razak Dawood, President FPCCI Ghazanfar Bilour, Senior Vice President Muhammad Badar Haroon, former presidents Sohail Altaf, Zahid latif Khan, Asad Mashadi and Chairman of all Pakistan Chinese Enterprise’s’ Association were also present on the occasion.

Under the agreement, RCCI and CRBC will work together in promoting Rashakai SEZ among its members, strengthening the information through exchange of delegations and using RCCI platform in expansion of business in Rashakai SEZ by holding joint exhibitions, seminars and symposiums. RCCI President Malik Shahid Saleem termed the MOU a great success and said Pakistan’s economy offered great potential to Chinese investors for joint ventures and investments. He said CPEC would be mutually beneficial for Pakistan and China and would ensure level playing field for the businessmen and investors of both countries.

SEZ will help Pakistan to improve its GDP, poverty alleviation and unemployment, he added. RCCI Chief urged both Pakistani and Chinese governments to work hard in completing all projects within stipulated time frame.

It is noted that CRBC a subsidiary of Fortune Global 500 company China Communications Construction Company (CCCC), focuses on global civil engineering and construction of transportation infrastructure, including highways, railways, bridges, tunnels, marine ports, airports and tunnels.

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Ghazanfar Bilour has urged all chambers and business community to put collective efforts to meet the new dynamics and challenges of economy.

Pakistan is facing huge challenge of export fall, energy crisis, lack of infrastructure and impediments in taxation. Private sector should come forward and join hands with the government to meet these challenges. He was expressing these remarks during his visit to the Rawalpindi Chamber of Commerce and Industry (RCCI). He congratulated newly elected officer bearers of RCCI and appreciated the role of RCCI in boosting trade activities through exhibitions and business opportunity conferences.

President RCCI Malik Shahid Saleem, Senior Vice President Muhammad Badar Haroon, Vice President Fayyaz Qureshi, Group Leaders, former presidents, among others, were also present on the occasion.

FPCCI President urged government to address the economic crisis and provide maximum facilities to promote local industry and must take business community on board while finalizing the trade and economic policies. RCCI President Malik Shahid Saleem, on this occasion said that all chambers and business community should join hands to address the issues faced by our community and urged government to provide an equal opportunity to local companies and traders in connection with mega projects. The relaxation in sales tax, custom duty and income tax should be given to local industry as well. He urged government to involve traders and private sector to boost up the progress on CPEC. He assured his full support and cooperation to FPCCI in resolving issues related to business community. In the end President RCCI presented a shield to FPCCI President for his visit to the chamber.

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