Chinese ambassador calls for deepening China-Pakistan economic cooperation at a High-Level Private Sector Investment Dialogue in Lahore.
The newly established Pakistan Regional Economic Forum (PREF), in collaboration with the Embassy of China, organized a High-Level Private Sector Investment Dialogue in Lahore. The event was co-chaired by Chinese Ambassador Jiang Zaidong and attended by key business leaders from Pakistan. Finance Minister Muhammad Aurangzeb addressed the gathering virtually from New York.
Haroon Sharif, Chairman of PREF and former Chairman of the Board of Investment (BOI), emphasized the rapid economic transformation in the region and the vast opportunities for economic growth in Pakistan. He highlighted the need for Pakistan to transition from a debt-driven to an investment-led economy by leveraging infrastructure connectivity, seeking private sector capital from Central Asia, the Gulf, and beyond to fast-track the second phase of the China-Pakistan Economic Corridor (CPEC). Khalid Mansoor, former SAPM on CPEC, outlined potential projects in PREF’s key sectors, including climate-smart agriculture, energy transition, value-added textiles, IT, and trade logistics.
Chinese Ambassador Jiang Zaidong underscored the importance of confidence in Pakistan’s development, China-Pakistan relations, and the broader future. He stressed that Pakistan must take control of its development and deepen cooperation with China. He also proposed expanding agricultural cooperation between the two countries, using neighboring provinces as a model, and suggested that Pakistan offer more mutually beneficial preferential policies for Chinese and regional investors. Addressing Pakistan’s energy sector challenges, he clarified that these issues were not due to Chinese enterprises or CPEC but were part of Pakistan’s broader systemic issues. He highlighted that while power generation capacity has improved, the sector is undergoing a transition towards efficiency and price stability.
The Finance Minister endorsed PREF’s strategy of promoting private-sector-led regional projects, pledging full government support to ensure adequate private sector financing from both multilateral and local sources. He also mentioned ongoing work on a $1 billion fund for regional joint ventures, led by Pak-China and Saudi-Pak investment companies. He affirmed his commitment to working with China and other regional partners to expedite CPEC-II’s implementation and promote regional prosperity. The session concluded with an interactive dialogue where participants shared ideas and potential joint ventures, capitalizing on each country’s comparative advantages.
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