LAHORE: A high-level delegation of a leading Chinese investor group Sun Suki, associated with the electric vehicle (EV) sector called on Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain on Tuesday.
The delegation was led by the group’s CEOMr Li. The Chinese group expressed keen interest in investing in Punjab’s EV sector. CEO Li stated that their group intends to establish lithium battery manufacturing facilities as well as assembly plants for electric bikes and electric rickshaws in Punjab.
During the meeting, the Provincial Minister briefed the delegation on the vast investment opportunities and facilities available in Punjab’s Special Economic Zones (SEZs). Shafay highlighted that investors in SEZs are offered special incentives. He noted that several Chinese companies have already made substantial investments in various sectors across Punjab. He emphasised that this is the best time to invest in Punjab’s EV sector, which offers immense potential. He further stated that the promotion of the EV sector is among the govt’s top priorities. He assured the delegation that the govtwould extend full facilitation and support for their investment.
The Sun Suki Group can invest in any Special Economic Zone in Punjab and will benefit from incentives including a 10-year income tax exemption and one-time duty-free import of machinery. The minister also shared that he has visited China three times over the past one year, during which productive meetings were held with major Chinese investors regarding investment in Punjab. Implementation on several agreements signed during these visits has already begun. Many Chinese companies have established their industrial units in Punjab, while others are in the process of setting up their plants.
He assured that the investment by the Sun Suki Group in Punjab’s EV sector would be fully protected and encouraged the group to invest with confidence. Special Secretary Industries, DG Punjab Board of Investment and Trade, directors, and representatives of the business community were also present in the meeting.
