Wed. Nov 20th, 2019

Leading Chinese companies to invest $5 billion in Pakistan in five years

Atif Abbas

Islamabad:Leading Chinese companies have committed to invest US $ 5 billion over a period of five years in various small and medium size industrial sectors.

A high level delegation comprising of more than 55 executives and CEOs of the leading Chinese companies called on Prime Minister Imran Khan at PM Office on Friday.

Minister for Planning Makhdoom Khusro Bakhtiar, Advisor to PM on Finance Dr. Abdul Hafeez Sheikh, Advisor to PM on Commerce Abdul Razak Dawood, Chairman BOI Syed Zubair Haider Gilani, Chairman FBR Syed Shabbar Zaidi were present during the meeting.

Chinese Ambassador to Pakistan Mr. Yao Jing also attended the meeting.

The visiting delegation represented various sectors including construction, machinery, glass, automobile, electrical, power, transportation, information technology and technological research. The visit of the largest ever Chinese delegation is a follow-up of Prime Minister’s visit to China and inking of agreements to enhance bilateral cooperation in different areas.

The Prime Minister welcomed Chinese delegation and stated that China has always been a trusted partner of Pakistan. The sagacity, wisdom and vision of the Chinese leadership for peace & development, good governance and poverty alleviation is highly impressive and worth emulating, said the Prime Minister.

He added that the interest of Chinese companies towards investment and relocating business and industrial units to Pakistan reflected the trust of Chinese side in the growing economy of our country and a strong desire to translate Pak-China equation into a win-win economic partnership.

Our Government is facilitating investors and reducing impediments in ‘ease of doing business’. Partnership with Chinese companies and their investment will reap multiple benefits for both the countries including employment generation, transfer of technology and economic growth, stated the Prime Minister.

While talking about CPEC, the Prime Minister reiterated that CPEC will prove to be a game-changer with respect to enhancing trade activities and further cementing Pak-China relations. Fast-track implementation of CPEC projects is our priority for which a special unit is overseeing implementation of various projects in Planning Division, said the Prime Minister.

Chinese business executives expressed confidence in the business friendly policies of the government and committed to invest US $ 5 billion over a period of five years in various small and medium size industrial sectors.

On the occasion, Chinese Ambassador Mr. Yao Jing stated that Chinese investors have observed fundamental improvement of policies and facilitation of foreign investors. Chinese government will extend all possible support towards realizing the vision of a strong, stable and prosperous Naya Pakistan, emphasized the Ambassador.

Makhdoom Khusro Bakhtiar, Planning Minister, and Mr. Abdul Razzak Dawood briefed the meeting about CPEC projects and various steps being taken to facilitate businesses and improving ease of doing business.

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