PM reviews $70 million in B2B agreements with Chinese firms, urges faster reforms

Prime Minister Muhammad Shehbaz Sharif was informed that over 200 business-to-business (B2B) agreements, along with a memorandum of understanding (MoU) worth $70 million, have been signed with several Chinese companies, according to APP. 

The prime minister chaired a review meeting to assess the progress of ongoing projects and various initiatives under the Board of Investment (BOI), according to a PM Office news release.

PM Shehbaz Sharif emphasized the need for an effective and comprehensive roadmap to ensure the completion of B2B agreements and the implementation of MoUs with international investors. 

“Work on regulatory reforms should be accelerated to provide a conducive environment for businesses in the country. Investment targets should be set that can be achieved as soon as possible,” the PM stated.

The prime minister underscored the importance of effectively marketing investment opportunities in Pakistan to attract foreign investors. He directed that the construction of business facilitation centers across the country be expedited. These centers, along with roadshows and similar initiatives, were deemed critical to boosting foreign investment.

During the meeting, it was revealed that 35 Special Economic Zones (SEZs) across the country had been surveyed using Geographical Information System (GIS) technology. Comprehensive data on these SEZs is now available to accelerate the progress of ongoing projects.

BOI officials presented an 18-point plan to make SEZs more effective and shared suggestions regarding the Ease of Doing Business Act 2024. The act would enable the BOI to create a modern regulatory framework to facilitate business operations in Pakistan.

Federal Minister for Privatization Abdul Aleem Khan and senior officials from relevant institutions also attended the meeting.