PM Shehbaz drives CPEC forward by welcoming Chinese industries to Pakistan
ISLAMABAD – In another move to revitalize China–Pakistan Economic Corridor CPEC, Prime Minister Shehbaz Sharif has welcomes Chinese Industries to Pakistan.
The premier approved joint ventures between Chinese and Pakistani companies to facilitate the multi billion flagship project. In a meeting focused on the Board of Investment (BoI), PM Shehbaz emphasized that encouraging both local and foreign investment is a key government priority.
He stated that the government is actively working to create a business-friendly environment for traders and investors. Prime Minister instructed relevant authorities to provide a detailed report on the follow-up actions regarding the Memorandums of Understanding (MoUs) signed between Pakistani and Chinese companies in Shenzhen during his recent visit to China.
PM also called for review of the draft law for the Special Economic Zones One Stop Shop, taking into account developments from his China visit. Prime Minister Shehbaz also highlighted significant potential for relocating China’s textile, leather, footwear, and other industries to Pakistan.
During the briefing, the BoI Secretary mentioned that efforts are underway to relocate Chinese industries to Pakistan. The services of Chinese experts are being utilized to establish a Business Facilitation Centre in the federal capital, and the draft of the “Easy Business Act” is being submitted to the Cabinet Committee for Legislative Cases.
The meeting was attended by Federal Minister for Privatization and Investment Abdul Aleem Khan, Federal Minister for Commerce Jam Kamal, Federal Minister for Finance and Revenue Muhammad Aurangzeb, Federal Minister for Petroleum Dr. Musadik Malik, Prime Minister’s Coordinator Rana Ehsan Afzal, and other senior government officials.
