Pakistan ideal destination for Chinese investment, surplus production

Pakistan can achieve objective of economic development and become a major industrial zone by attracting Chinese investment and surplus production because of its low labor cost and big consumer market.

"China is a huge economic power and looking forward to new markets for its surplus production and Pakistan could become an ideal destination for Chinese investment and goods because of vibrant middle class and hardworking workforce," Pakistan Counsel General, Shanghai, Dr. Naeem Khan said on Friday.

He opined that with huge consumers market and skilled, hardworking and low cost labor, Pakistan can attract the Chinese investors and traders and make Pakistan a major industrial zone.

He said that China is committed to invest more than US$ 60 billion under China-Pakistan Economic Corridor (CPEC), a flagship project of Belt and Road Initiative in energy and infrastructure sectors in Pakistan.

"China is helping us in construction of roads, telecommunication network, Gawadar port and airports and all this will play a key role in handling future production capacity," he said in an interview with APP.

Naeem Khan said the China considering Pakistan a strategic partner has been encouraging its investors and traders to go to Pakistan and take part in investment and trade activities.

"We can achieve our goal of economic prosperity by utilizing this opportunity in an appropriate manner by enhancing our economic base and overcoming challenges," he added.

Terming the CPEC a cornerstone for the economic development of Pakistan, he said, "At present the trade volume between China and Pakistan is around US$ 20 billion and if we want to enhance our trade with China, we will have to enhance our capability by improving the infrastructure, ports, roads and telecommunications to handle this increase."

With enhanced energy production and top of line infrastructure, Pakistan would be able to fulfill demand of industrial production in future.

Terming the skilled workers as one of the best workforce in the world, he said, Pakistani engineers, technicians and laborers would play a pivotal role to make the CPEC a success.

"Our quality workforce was the key force behind development in Middle East while Pakistani doctors are serving in the USA and UK," he added.

On the role the consulate to attract and promote investment in Pakistan, he said, "We have been introducing Pakistani products in the trade fairs besides maintaining a close liaison with political and economic leadership as well as the chambers of commerce for this purpose."

On issues being faced by Pakistani community living in and around the Shanghai, the Counsel General said he is aware of these issues which mostly relates to the local Chinese government.

"We also take up these issues with local officials and take steps for the welfare of Pakistani community," he added.