Chinese firms assure PM of $5bn investment in Pakistan

Investment, transfer of industrial set-up to generate over 50,000 jobs in first year

ISLAMABAD: Different Chinese companies assured Prime Minister Imran Khan to invest $5 billion US dollars in Pakistan in next three to five years as a delegation comprising heads and representatives of 55 Chinese companies met the prime minister on Friday.

After the meeting the PM office issued a statement which said the investment and transfer of industrial set-up by Chinese companies will generate over 50,000 jobs in Pakistan the first year.

“The Chinese corporate leaders with their businesses in multiple areas including small and medium enterprise showed keen interest to invest in Pakistan,” it said.

The meeting was a follow-up of Prime Minister Khan's visit to China in April where the leadership of two countries agreed to strengthen bilateral relationship in key areas, particularly trade and investment.

Prime Minister Imran Khan welcomed the interest of Chinese companies, saying Pakistan's diverse areas have immense potential for foreign investment.

US firms keen to invest in Pakistan

He said: Inspired by the strategy of Chinese leadership on peace, governance and poverty alleviation, the government is willing to learn from these experiences to achieve the goals of national prosperity.

Imran Khan said China has always sided with Pakistan in tough times and there is a strong bond of friendship between people of both the countries.

PHOTO: APP

Talking with reference to multi-billion dollar China Pakistan Economic Corridor (CPEC), he said the project would prove a game changer in exploring the true potential of bilateral trade relations.

He said implementation of CPEC-related initiatives is a priority for the government.

“A special department is set up at the Planning Ministry to oversee smooth running of CPEC projects. The government is focusing on the concept of 'ease of doing business' to promote foreign investment.”

Chinese Ambassador Yao Jing said China would extend full cooperation to Pakistan in promoting business activities and establishing strong trade links for the country's economic stability.

Planning Minister Khusro Bakhtiar and Adviser to PM on Commerce Abdul Razak Dawood apprised the meeting of the government's fiscal policies and progress on CPEC-related projects.

Adviser to PM on Finance Dr Hafeez Shaikh, the Board of Investment (BoI) Chairman Zubair Gilani and the Federal Board of Revenue Chairman Shabbar Zaidi also attended the meeting.