Malaysia seeks investment avenues in Pakistan

Envoy says CPEC provides opportunities for businessmen to penetrate market

ISLAMABAD: The Malaysian business community and key players should seize the opportunity offered in Pakistan’s market, specifically under the China-Pakistan Economic Corridor (CPEC) project, the Malaysian envoy said.

High Commissioner to Pakistan Ikram Mohammad Ibrahim said the CPEC project - a 15-year master plan under the Belt and Road Initiative - is a chance for local businessmen to look into and penetrate the market, which included roads and railways, stretching from the western Chinese city of Kashgar in China’s Xinjiang province to Pakistan’s port of Gwadar.

“With the change in governments and visits from heads of state, the two countries are now moving to a greater level of partnership and cooperation,” he remarked.

Xinjiang: peaceful homeland for all ethnic groups

“The CPEC mega project is a huge market opportunity that could not be missed by Malaysian business players. This is where the Malaysia-Pakistan Business Council should play its role in facilitating business meetings and helping to boost business linkages on both ends,” Ibrahim was quoted as saying by Malaysian national news agency Bernama.

He was speaking at the Pakistan-Malaysia Business Opportunities Conference (BOC) in Kuala Lumpur on Monday.

BOC brought together more than 300 participants - including about 150 Malaysian companies - representing various sectors including tourism, pharmaceutical, chemical, plastic, textile, surgical goods, furniture and construction.

Pakistan’s Charge d’Affaires to Malaysia Atif Sharif Mian said CPEC would continue to attract more joint investment in the long run.

“The project brings $40-50 billion investment and it is going to upgrade all the infrastructure as well as Pakistan’s economy,” he said, adding it was a big corridor and would definitely stimulate more investment.

“Malaysia is globally known to be good at providing services and expertise on railways, roads and construction, thus the country can also invest in this project,” he suggested.

He emphasised that Malaysia and Pakistan could do more to increase and enhance bilateral ties. “The focus of BOC is also to promote and engage private sectors from both sides because at the end of the day though governments have helped to facilitate efforts, it is the private sector that will need to find opportunities for increasing trade and investment,” he added.

Published in The Express Tribune, July 9^th, 2019.

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