CPEC second phase to prioritize industrial growth, business relocation, JVs: Pakistani minister tells PCICL

Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with the leadership of Pak-China Investment Company Limited (PCICL) to discuss strategies for enhancing Chinese investment in Pakistan.

The meeting focused on fostering joint ventures and increasing exports from Chinese companies operating within Pakistan. Present at the meeting were PCICL Chairman Mr. Sun Bo, Managing Director Mr. Hassan Raza, and senior officials from the Finance Division and PCICL.

Minister Aurangzeb highlighted the pivotal role of PCICL in Pakistan’s economic growth, particularly as the country enters the second phase of the China-Pakistan Economic Corridor (CPEC). He emphasized that this phase will prioritize industrial growth, business relocation, and Joint Ventures (JVs).

The Minister urged PCICL to realign its strategy to target key markets, facilitate joint ventures, and provide advisory support, especially to small and medium-sized enterprises (SMEs), to stimulate investment and trade.

PCICL Chairman Mr. Sun Bo and Managing Director Mr. Hassan Raza briefed the Minister on the company’s efforts to bolster Pakistan-China trade and investment ties.

They reaffirmed their commitment to supporting Pakistan’s economic development, with Mr. Sun expressing gratitude for the Minister’s recognition of PCICL’s role. He assured continued efforts to promote investment and joint ventures between the two nations.

In his concluding remarks, Minister Aurangzeb reassured Chinese investors of their security in Pakistan and emphasized their critical contribution to the country’s economic progress.

He reiterated the government’s commitment to fostering a business-friendly environment for both domestic and international investors.