Chinese companies to invest $5b in Pakistan

Islamabad: Leading Chinese companies have committed to invest five billion dollars in Pakistan in next 3-5 years.The commitment was expressed during a meeting of a high level delegation of over 55 executives and CEOs of the leading Chinese companies with Prime Minister Imran Khan in Islamabad on Friday.

Chinese business executives expressed confidence in the business friendly policies of the government and committed to invest five billion dollars in five years in various small and medium size industrial sectors of Pakistan.

The Prime Minister welcomed the investment plans of Chinese companies.The visiting delegation represented various sectors including construction, machinery, glass, automobile, electrical, power, transportation, information technology and technological research. The visit of the largest ever Chinese delegation is a follow-up of Prime Minister’s visit to China and inking of agreements to enhance bilateral cooperation in different areas.

Welcoming the delegation, Imran Khan said interest of Chinese companies towards investment and relocating business and industrial units to Pakistan reflected the trust of Chinese side in the growing economy of our country and a strong desire to translate Pak-China equation into a win-win economic partnership.

He said the government is facilitating investors and reducing impediments in ‘ease of doing business’. He said partnership with Chinese companies and their investment will reap multiple benefits for both the countries including employment generation, transfer of technology and economic growth.

While talking about CPEC, the Prime Minister reiterated that CPEC will prove to be a game-changer with respect to enhancing trade activities and further cementing Pak-China relations. He said fast-track implementation of CPEC projects is our priority for which a special unit is overseeing implementation of various projects in Planning Division.

On the occasion, Chinese Ambassador Mr. Yao Jing said Chinese investors have observed fundamental improvement of policies and facilitation of foreign investors. He said Chinese government will extend all possible support towards realizing the vision of a strong, stable and prosperous Naya Pakistan.

Planning Minister Makhdoom Khusro Bakhtiar and Commerce Advisor Abdul Razzak Dawood briefed the meeting about CPEC projects and various steps being taken to facilitate businesses and improving ease of doing business.