PM Khan invites Chinese companies to invest in Pakistan’s SEZs
ISLAMABAD/BEIJING: Pakistan and China on Friday inked the Framework Agreement on Industrial Cooperation under China Pakistan Economic Corridor (CPEC). State Minister and Chairman BoI Muhammad Azfar Ahsan and Chairman National Development & Reform Commission (NRDC) He Lifeng signed the accord.
The objective of the Joint Working Group (JWG) on Industrial Cooperation is to attract Foreign Direct Investment (FDI), promote industrialization and development of economic zones, and initiate, plan, execute, and monitor projects, both in public as well as private sector.
The engagement with China under JWG is envisaged to increase labour productivity in Pakistan, enhance industrial competitiveness, increase exports, and sustain diversification in exports basket. The signing ceremony of the framework agreement is a significant outcome of the prime minister’s visit and a top agenda from the Chinese side as a testimony to their interest in CPEC.
Prime Minister Khan invited the Chinese companies to invest in Pakistan and benefit from the business-friendly policies of the government. The Prime Minister , who held a series of meetings with the executives of Chinese State-owned and private corporate sectors, said Pakistan was offering conducive environment for investment in Special Economic Zones (SEZs) under the China Pakistan Economic Corridor. In his remarks, the prime minister appreciated the keen interest of the Chinese companies to invest in Pakistan.
The executives who met the prime minister included leadership of China Communication Construction Company (CCCC), Huazhong Technology, Zhejiang Seaport Group, Challenge Apparel, Hunan Sunwalk Group, Royal Group, China Road and Bridge Corporation (CRBC), Zhengbang Group and China Machinery Engineering Corporation (CMEC).
Prime Minister Khan terming the China Pakistan Economic Corridor (CPEC) of strategic significance for both the countries said the project was delivering tangible benefits. The prime minister expressed these views in a virtual meeting with He Lifeng, Chairman of China’s National Development and Reform Commission (NDRC) and Vice Chairman of the Chinese People’s Political Consultative Conference in Beijing.
The prime minister noted with satisfaction that CPEC’s early-harvest projects had transformed Pakistan’s economic landscape, thus laying a solid foundation for sustainable economic growth. Reaffirming the commitment of two sides to timely completion of CPEC and its high-quality development, the prime minister said that both sides would continue expediting efforts to achieve Gwadar’s potential as a hub of regional commerce and industry while also prioritizing preparatory work on the ML-1 and other key energy projects.
Prime Minister Khan also joined the world leaders at Beijing’s National Stadium as the spectacular Beijing Winter Olympics 2022 kicked off here. Also known as the Bird’s Nest stadium, the venue of Olympics featured a show of ice-cool blue lasers as President Xi Jinping inaugurated the international sports event.