Pakistan to invite Chinese companies to invest in seven major and critical sectors

Islamabad: Pakistani government has decided that Chinese companies will be invited to invest in seven major and critical sectors of Pakistan.

A strategic plan for Joint Ventures (JVs) between Chinese and Pakistani companies has been finalised.

The seven major sectors include medical and surgical equipment, plastics, clothing, leather industry, edible meat, fruits and vegetables, and waste and fodder.

This information was shared after a recent joint meeting of the Board of Investment, led by Federal Ministers Abdul Aleem Khan and Jam Kamal Khan.

Seventy-eight (78) Chinese business organizations and 167 Pakistani companies will hold talks, aiming to make substantial progress in the investment sector.

Abdul Aleem Khan, the Federal Minister of Investment Board, Privatization, and Communications, said that with the cooperation of Chinese companies, Pakistan’s trade volume could increase by US one billion dollars.

He emphasized that, compared to Bangladesh, India, Vietnam, and other countries in the region, Pakistan presents a more attractive and significant opportunity for Chinese investment.

Khan instructed the senior officials of the Board of Investment to finalize the details with the companies involved in the Joint Ventures for mutual investment.

He also mentioned that the Pakistani Embassy in Beijing should be involved to facilitate the Chinese companies as much as possible.

Khan added that the Ministries of Foreign Affairs, Trade, Industry and Production, Food Security, and Maritime should be included in the loop to ensure maximum coordinated efforts for investment. He suggested that new industries should be established in industrial free zones or areas with the most reliable electrical supply.

He requested the relevant authorities to submit the details for the Pakistan-China trade roadmap to the Prime Minister and obtain directions for further progress.

Commerce Minister Jam Kamal Khan, speaking at the briefing session, said the Ministry of Commerce has been instructed to fully coordinate and cooperate with the Board of Investment.

A senior BoI official, while giving a briefing, mentioned that Pakistan’s seven major sectors include medical and surgical equipment, plastics, clothing, leather industry, edible meat, fruits and vegetables, and waste and fodder.

He assured that the Board was fully prepared to invite Chinese companies and associate them with Pakistani counterparts, with initial groundwork already completed. He also presented a comparative review of various sectors during the briefing.