Chinese senior diplomat emphasizes importance of foreign investment

Islamabad: Chinese Charge d’Affaires in Pakistan Pang Chunxue has emphasized the importance of foreign investment in the country’s development.

Pakistan is currently facing economic challenges, and there is a significant need for foreign cooperation.

She noted that the initial phase of the China-Pakistan Economic Corridor (CPEC) had focused on infrastructure development, and now the attention is shifting towards promoting agriculture, information technology, and various industries.

Speaking in a television talk show, she mentioned that CPEC, a multi-billion dollar project under China’s Belt and Road Initiative, has been hailed as a transformative initiative by Pakistani leaders.

“Over the years, Pakistan has invited other friendly nations to participate in CPEC and reap its benefits. During the initial phase of CPEC, significant progress was made in road construction and the establishment of economic zones across Pakistan,” she added.

Pang Chunxue stressed the crucial role of foreign investment in driving development, echoing the sentiments of former Pakistan’s ambassador to China, Masood Khalid.

Khalid , who also participated in the program, pointed out that Chinese investors had shown interest in establishing industries in Pakistan but faced challenges in terms of facilities.

However, he expressed optimism that the situation was improving, with efforts being made to address these issues through cooperation with Chinese counterparts.

Khalid also highlighted the paramount importance of security for the success of CPEC, emphasizing that the projects under CPEC were being provided with comprehensive security measures.

He acknowledged that challenges related to payments in dollars had slowed down progress on CPEC but suggested that these issues were being addressed.

In his comments, Jamal Shah, the interim federal minister, emphasized that the government was prioritizing economic progress during cabinet meetings. Shah expressed confidence that CPEC would bring about significant economic progress in Pakistan.

Faisal Karim Kundi, a leader from the Pakistan Peoples Party (PPP), noted that CPEC had been in progress for ten years and had initiated numerous projects.