Islamabad: (Parliament Times) President Azad Jammu and Kashmir Sardar Masood Khan has said that there was a huge construction boom taking place in all of Pakistan and Azad Kashmir which will provide ample opportunities for local and foreign investment.
The President made these remarks while interacting with a Chinese delegation that called on him here in Islamabad. The delegation comprised of Jiang Bing, Vice President China Nantong Sanjian Construction Group (CNTC), Ding Nan, Business Manager CNTC and other CNTC officials.
President Masood Khan warmly welcomed the delegation and invited them to visit Azad Kashmir and explore new avenues of investment. He informed them that AJK amid its political stability, peace and strengthening economy would provide a conducive environment for foreign investors along with opportunities of forming public-private partnerships.
The President said that AJK owing to its huge youth bulge, an 85% literacy rate, growing middle class, trained workforce, availability of raw materials has a huge potential for investment, especially in the construction sector.
President Azad Kashmir informed the delegation that the Chinese Government have been actively investing in AJK for the past three decades. He added that with the formal inclusion of Azad Kashmir in the China Pakistan Economic Corridor; 4 projects have exclusively been earmarked for this region which include Karot (720 MW), Kohala (1124 MW) Hydro-power projects, Special Industrial Zone in Mirpur and the Mansehra-Mirpur expressway.
President Masood Khan said that after the 2005 earthquake, China had assisted in the reconstruction of Muzaffarabad, Rawalakot and Bagh in AJK which is an affirmation of the brotherly relationship enjoyed by the people of the two countries.
Azad Kashmir, said the President, enjoys the lowest crime rate in the region and has always attracted foreign investors. In recent years, South Korea, Turkey, Saudi Arabia and Kuwait have been actively involved in reconstruction and development projects all over AJK.
The President said on the occasion that special initiatives have been taken to introduce contemporary skill development for the youth enabling compatibility with current market trends. “We will be producing skilled graduates to cater to the dynamically growing job market of AJK and the region”, he said.
Mr. Bing briefed the President about the working of CNTC. He was told that CNTC was initially established in 1958 as a state owned enterprise, and is currently one of the largest private sector construction conglomerate working in all provinces of China and over 20 countries around the world. CNTC specializes in construction of roads, pre-fabricated housing, construction materials and real-estate development said Mr. Bing.
Dr. Khalid Rafique, Director General AJK IT Board was also present at the meeting.
