Posted by: Bruce Einhorn on June 19, 2008
Chinese investors may have had their share of difficulties in India, but going by the reception that one of China’s top business leaders has just received in Pakistan, they’re seeing a welcome sign from India’s longtime rival. According to this story in Pakistan’s Daily Times, the country’s prime minister, Syed Yousuf Raza Gilani, met with the chairman of Haier, Lu Keng, yesterday and praised the joint venture that Haier – the big white-goods maker rumored to be in the running to buy GE’s appliances division – has with a Pakistani partner to set up a special economic zone in the country.
In a bit of a dig at India, which maintains some restrictions on foreign investment, the Pakistani premier also said the Chinese would get equal treatment. Writes the Daily Times: “Pakistan makes no distinction between local and foreign investors, as 100 percent foreign equity, remittance of royalty, profits and dividends is allowed under Pakistani laws, he said.”