ISLAMABAD: President Azad Jammu and Kashmir (AJK) Sardar Masood Khan said that there is a huge construction boom taking place in all over Azad Kashmir providing great opportunities for local and foreign investment.
The President made these remarks while interacting with a Chinese delegation that called on him here on Sunday. 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. “We will be producing skilled graduates to cater to the dynamically growing job market of AJK and the region”, he said.
He assured delegation members 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 per cent 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 has been actively investing in Azad Jammu and Kashmir (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.
Masood Khan reminded, “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”.
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.