ISLAMABAD: China’s Hexing Electrical, a prominent player in the global smart metering and energy management industry, has expressed interest in investing in Pakistan’s renewable energy sector. This development is expected to generate more jobs and boost exports.
Founded in 1992, Hexing Electrical is expanding its footprint into renewable energy by planning to establish a manufacturing unit in Pakistan for inverters and batteries. The company’s chairman, Liangzhang Zhou, met with Pakistan’s Minister for Investment and Privatization, Abdul Aleem Khan, in Islamabad to discuss the project.
Khan emphasized that the new factories would significantly enhance employment opportunities and increase the country’s exports, helping revitalize the national economy. He assured full cooperation from the government to facilitate the investment, highlighting Pakistan’s untapped potential in the electrical sector.
Zhou noted that Hexing Electrical, which operates in 90 countries with a workforce of 7,000, has set up such factories in only 20 nations worldwide. The upcoming plant in Pakistan would be the first of its kind in the country.
This collaboration follows a five-day visit by Prime Minister Shehbaz Sharif to China, where he met with Chinese business leaders to encourage investment in Pakistan.
The governments of Pakistan and China are already cooperating on infrastructure and connectivity projects through the China-Pakistan Economic Corridor (CPEC). Both nations are optimistic that the private sector will lead the next phase of CPEC by capitalizing on Pakistan’s industrial zones through business-to-business partnerships.
