China's law firm looking for establishing JVs in SEZs under CPEC

China's largest law firm Dacheng Dentons on Thursday expressed its keen interest for establishing joint ventures with local private sector in special economic zones (SEZs) being set up under China-Pakistan Economic Corridor (CPEC) project.

A delegation law firm led by Yongqian Xu, Senior Partner visited Islamabad Chamber of Commerce and Industry (ICCI) and discussed establishment of joint ventures (JVs) between the Chinese and Pakistani private sectors.

Speaking at the occasion, Yonggian Xu said his firm was one of the largest legal firm in the world with 136 offices in over 55 countries and it was connecting entrepreneurs and investors of China with the counterparts in foreign countries to promote business partnerships.

He said the firm has over 40 years of experience to connect investors in special economic zones and it wanted to play role for promoting JVs and business partnerships between the SMEs and corporates of China and Pakistan in SEZs under CPEC in Pakistan.

He said the firm was providing various legal services to its clients including resolution of business disputes and it wanted to play role in Pakistan to promote business collaborations between China and Pakistan.

He also invited ICCI delegation to visit Shanxi province of China to explore collaborations with SME sector of China.

Speaking at the occasion, President ICCI Sheikh Amir Waheed said nine SEZs would be set up in Pakistan under CPEC and Dacheng Dentons should bring well-established companies of China with technology transfer to enter into sustainable JVs and partnerships with Pakistani counterparts in those SEZs.

He said by investing in Pakistan, Chinese investors would be able to produce competitive products and promote exports from Pakistan to South Asia, Middle East and other regional markets.

He said the ICCI was planning to set up a CPEC facilitation center and Dacheng Dentons should join hands with chamber to promote business collaborations between the SMEs of China and Pakistan through that platform.

He said the ICCI was negotiating with the government to establish SEZ in Islamabad on public-private partnership model and Dacheng Dentons should share its expertise with the ICCI in developing a successful model of the said SEZ.