Chinese businessmen pledge to invest $5bn in Pakistan

PM says the sagacity, wisdom and vision of Chinese leadership for peace & development is worth emulating

ISLAMABAD: Chinese business leaders have committed to investing $5 billion in Pakistan over a period of five years, according to the statement issued by the Prime Minister Office on Friday.

As per details, a high-level delegation, comprising more than 55 executives of leading Chinese companies, called on Prime Minister Imran Khan at the PM Office.

Planning Minister Makhdoom Khusro Bakhtiar, Adviser to PM on Finance Dr Abdul Hafeez Shaikh, Adviser to PM on Commerce Abdul Razak Dawood, Board of Investment Chairman Zubair Haider Gilani, Federal Board of Revenue Chairman Syed Shabbar Zaidi and Chinese Ambassador to Pakistan Yao Jing were present on the occasion.

“The visiting delegation represented various sectors, including construction, machinery, glass, automobile, electrical, power, transportation, information technology and technological research,” the statement said. “The arrival of the largest ever Chinese delegation is a follow-up of the prime minister’s visit to China, where he had inked agreements to enhance bilateral cooperation in different areas.”

The prime minister welcomed the 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,” the PM remarked, adding that the interest of Chinese companies towards investment and relocation in Pakistan reflected the trust of the Chinese side in Pakistan’s growing economy and a strong desire to translate the Pak-China equation into a win-win economic partnership.

“Our government is facilitating investors and reducing impediments in the way of businesses. Partnership with Chinese companies for employment generation, transfer of technology and economic growth will reap multiple benefits for both countries in the future.”

Talking about the China Pakistan Economic Corridor, the prime minister reiterated that CPEC would prove to be a game-changer in terms of enhancing trade activities and further cementing Pak-China relations.

“Fast-track implementation of CPEC projects is our priority for which a special unit of the Planning Division is overseeing the implementation of various projects,” the PM stated.

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

On the occasion, Chinese Ambassador Yao Jing stated that Chinese investors have observed fundamental improvements in the trade and business policies of Pakistan.

“The Chinese government will extend all possible support towards realizing the vision of a strong, stable and prosperous Pakistan,” the envoy maintained.

Planning Minister Makhdoom Khusro Bakhtiar and PM’s Adviser Abdul Razzak Dawood briefed the meeting about CPEC projects and various steps being taken to facilitate the country’s business community.

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