Pakistan eyes greater Chinese investment during CPEC 2.0 as stated by the Finance Minister Muhammad Aurangzeb.
Pakistan’s Finance Minister Muhammad Aurangzeb stated on Sunday that the second phase of the China-Pakistan Economic Corridor (CPEC) is expected to draw increased Chinese investments and companies as Pakistan seeks closer economic collaboration with China.
CPEC is an expansive, multi-billion-dollar initiative connecting China and Pakistan through infrastructure like highways, railways, and pipelines. In December 2024, Pakistan announced a renewed commitment to advancing the project with a fresh emphasis on strategic priorities.
The second phase, dubbed “CPEC 2.0,” will focus on fostering deeper cooperation, transferring advanced technology, and implementing transformative socio-economic initiatives, according to the government.
Aurangzeb underscored the significance of this phase, stating that it would serve as a catalyst for attracting more Chinese investment and businesses. He made these remarks during an interview with Hong Kong’s TVB News.
While attending the Asian Financial Forum in Hong Kong, the finance minister invited the region to send delegations to Pakistan to explore trade and financial opportunities, highlighting Hong Kong’s potential as a hub for joint ventures between Chinese and Pakistani enterprises.
The second phase of CPEC will prioritize industrialization, the development of Special Economic Zones (SEZs), and projects in clean energy, agriculture, and livelihoods, according to Pakistan’s foreign ministry.
Despite its potential, CPEC faces challenges, including Pakistan’s financial constraints and security issues, such as attacks on Chinese assets by militants, particularly in the southwestern region.
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