Chinese businessmen eye opportunities in CPEC Phase-II

June 03, 2024 (MLN): Minister Planning, Development, and Special Initiatives, Ahsan Iqbal on Friday visited China and met with Chengdu-based entrepreneurs and businessmen interested in becoming part of Phase-II of the China-Pakistan Economic Corridor (CPEC).

The businessmen shared their suggestions on how the Pakistani government could further facilitate them in expanding their operations in Pakistan, bringing more investment into the country, hiring more Pakistanis, and increasing foreign exchange earnings.

According to a press release issued on the same day, the Minister had a comprehensive tour of the Chengdu High Tech Development Zone (CDHT).

During Minister’s tour of CDHT, he was briefed by Chengdu Municipal leaders, and zonal officials, on the High Tech Development Zone's history, development profile, special policies to attract both domestic and foreign investment, and pillar industries.

The CDHT, established in 1988, is one of the first national high-tech zones in China. In 2023, the CDHT realized a zonal GDP of over $43bn.

Covering an area of 237 sqkm, the zone includes a financial district, biotechnology city, and a science and technology park, employing more than 750,000 people, and registering over 4300 enterprises.

Minister Ahsan Iqbal thanked the local officials for their briefing and invited them to participate in Pakistan’s development, especially vis-à-vis CPEC Phase-II, and to develop technology parks in Pakistan, sharing their valuable experiences and expertise.

Additionally, the Minister invited relevant experts to visit Pakistan, and engage with authorities and businesses, so that meaningful cooperation could take place.

This was greeted positively by both the Municipal leaders and zonal officials.

The Minister also met with Pakistani dispora.

In the Minister’s exchange with the Pakistani diaspora, those present shared their achievements and desire to return to Pakistan, and contribute positively.

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