Chinese corporate heads assure $5 billion investment in Pakistan in 3-5 years

Jul 12: Heads of different Chinese companies on Friday gave assurance to Prime Minister Imran Khan to invest five billion dollars (US $5 billion) in Pakistan in next three to five years.

The investment and transfer of industrial set-up by Chinese companies will generate over 50,000 jobs in Pakistan the first year, the PM Office said, as a delegation comprising heads and representatives of 55 Chinese companies met the prime minister.

The Chinese corporate leaders with their businesses in multiple areas including small and medium enterprise showed keen interest to invest in Pakistan.

The meeting was the follow-up of Prime Minister Khan's visit to China in April where the leadership of two countries agreed to strengthen bilateral relationship in key areas, particularly trade and investment.

Prime Minister Imran Khan welcomed the interest of Chinese companies, saying Pakistan's diverse areas had immense potential for foreign investment.

Inspired by the strategy of Chinese leadership on peace, governance and poverty alleviation, he said the government was willing to learn from these experiences to achieve the goals of national prosperity.

Imran Khan said China always sided with Pakistan in tough times, adding that people of both countries were tied with a strong bond of friendship.

On China Pakistan Economic Corridor (CPEC), he said the project would prove a game changer in exploring the true potential of bilateral trade relations.

The prime minister said implementation of CPEC-related initiatives was a priority for the government and mentioned setting up a special department at the Planning Ministry to oversee smooth running of projects.

He said the government was focusing on the concept of 'ease of doing business' to promote foreign investment.

Chinese Ambassador Yao Jing said China would extend full cooperation to Pakistan in promoting business activities and establishing strong trade links for the country's economic stability.

Planning Minister Khusro Bakhtiar and Adviser to PM on Commerce Abdul Razak Dawood apprised the meeting of the government's fiscal policies and progress on CPEC-related projects.

Adviser to PM on Finance Dr Hafeez Shaikh, Chairman Board of Investment Zubair Gilani and Chairman Federal Board of Revenue Shabbar Zaidi were present.

APP