KP government vows support for Chinese investment under CPEC as they reiterated their stance during the CPEC seminar being held in Peshawar.
The Khyber Pakhtunkhwa government expressed its determination on Thursday to offer full support, facilities, and security to Chinese investors, enabling them to conduct business throughout the province.
At an international seminar on the China-Pakistan Economic Corridor (CPEC) at the China Window, KP’s finance adviser Muzammil Aslam, industries special assistant Abdul Karim Khan, and information adviser Barrister Muhammad Ali Saif announced the establishment of a special security unit to protect Chinese investors and their assets. However, they also urged the federal government to remove the requirement for no-objection certificates (NOCs) for Chinese and other foreign nationals.
Mr. Aslam praised Chinese President Xi Jinping for aiming to enhance bilateral cooperation under the Belt and Road Initiative, a key platform for neighboring countries. He highlighted that CPEC, as a flagship Belt and Road project, has brought Pakistan $25.4 billion in investment, created 236,000 jobs, built 510 km of highways, generated over 8,000 megawatts of electricity, and constructed 886 km of core transmission lines.
The CM’s adviser stressed the importance of addressing investor concerns, ensuring their safety, and fostering an investment-friendly environment to support economic growth, particularly in Khyber Pakhtunkhwa, through Chinese collaboration that will create jobs and bring prosperity.
Special assistant Abdul Karim Khan described CPEC as a transformative project not only for Pakistan but for the entire region. He pointed out that the project offers vast opportunities in infrastructure, energy, industry, and trade. He emphasized that Khyber Pakhtunkhwa, with its strategic location, resources, and human capital, is poised to play a vital role in the second phase of CPEC and is prepared to benefit from the initiative.
Mr. Khan added that the provincial government is taking significant steps to develop industrial and special economic zones, ensuring a favorable investment climate. He noted the Rashakai Economic Zone as an example of successful policy, attracting both local and foreign investors.
Barrister Muhammad Ali Saif, the KP government spokesman, affirmed that CPEC is a joint project aimed at economic growth and prosperity for both Pakistan and China. He highlighted China’s role in building a high-level connectivity network, promoting regional stability, and strengthening industrial cooperation, as well as supporting law enforcement and people-to-people exchanges.
Chinese investors at the seminar showed strong interest in investing in the province but highlighted several challenges. They emphasized that resolving these issues could unlock significant investment opportunities across the province, generating thousands of local jobs.
Chinese businessman Wang Qi, who has invested in multiple sectors across Pakistan, praised KP’s strategic location as an attractive investment destination. He mentioned that Chinese investors are keen to invest in various sectors such as agriculture, minerals, precious stones, and marble, both independently and in partnership with local stakeholders. However, he pointed out that delays in obtaining NOCs hinder the investment process.
Mr. Qi, who heads the Zhejiang Chamber of Commerce in Pakistan and represents Beijing Mineral Technology Company, urged the provincial government to leverage President Xi Jinping’s Belt and Road Initiative. He also called for a one-window operation system to simplify investment procedures and eliminate bureaucratic obstacles.
Mr. Qi pledged that if KP introduces investor-friendly policies, he is ready to make significant investments that could create employment for over 50,000 skilled workers, with potential for further growth. He also praised the establishment of the Special Security Unit for Chinese citizens and recognized the dedication of security forces in ensuring their safety.
Related Posts
