By Hasnain Ali
In a landmark step to attract global investors, the Government of Punjab has signed a cooperation agreement with the Hong Kong General Chamber of Commerce to strengthen economic and trade relations.
The move is part of Punjab’s broader effort to open new investment channels and expand its industrial footprint on the international stage.
Punjab Minister Shafay Hussain Reaches Hong Kong for Investment Talks
Punjab’s Minister for Industries and Commerce, Chaudhry Shafay Hussain, arrived in Hong Kong to lead discussions aimed at promoting foreign investment and bilateral trade.
During his visit, he witnessed the signing of a Memorandum of Understanding (MoU) between the Punjab Department of Industries and Commerce and the Hong Kong General Chamber of Commerce.
The MoU was signed by Minister Chaudhry Shafay Hussain and the Chamber’s Chairperson Agnes Chan, marking a significant milestone in regional economic cooperation.
Agreement to Strengthen Economic Partnership
Under the agreement, both sides will work to enhance bilateral trade, investment, and business collaboration. The partnership aims to foster industrial cooperation, joint commercial ventures, and exchange of market opportunities between Punjab and Hong Kong.
The initiative also focuses on facilitating business activities by reducing trade barriers and promoting direct engagement between business communities on both sides.
Punjab Offers Attractive Incentives for Global Investors
Speaking at the signing ceremony, Minister Shafay Hussain emphasized that Punjab provides a highly favorable environment for investors.
He said the province’s Special Economic Zones (SEZs) offer 10 years of income tax exemption and a one-time duty-free import of machinery — benefits that make Punjab one of the most competitive investment destinations in South Asia.
He added that land for industrial units in SEZs can be acquired through easy installment plans, further easing entry for foreign investors.
“We welcome Hong Kong’s investors to explore Punjab’s growing opportunities. Many international companies are already setting up industrial units here, bringing advanced technology and creating new jobs,” the minister stated.
Hong Kong Business Leaders Welcome the Move
Agnes Chan, Chairperson of the Hong Kong General Chamber of Commerce, praised the agreement as an important step toward stronger business ties between Hong Kong and Punjab.
“This collaboration will help connect Hong Kong’s international business community with new investment opportunities in Punjab,” she said.
“We will inform our member companies about Punjab’s industrial potential and encourage them to explore partnerships.”
Partnership to Drive Growth, Exports, and Employment
Officials from both sides expressed optimism that this cooperation will increase exports, bring in new foreign investments, and generate employment in Punjab.
The collaboration also aims to promote people-to-people and business-to-business connections, paving the way for a new era of economic growth between Punjab and Hong Kong.
“This partnership will open new doors of prosperity and mutual development,” said Minister Shafay Hussain, calling it a win-win for both regions.
Key Takeaways
- Punjab and Hong Kong sign MoU to promote trade and investment
- Minister Shafay Hussain leads the delegation in Hong Kong
- Agreement to enhance industrial collaboration and economic cooperation
- Punjab offers 10-year tax exemption and duty-free machinery import
- Hong Kong businesses to explore new ventures in Punjab’s SEZs
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