Move to relocate Chinese units to Pakistan hailed

'Knowledge-based business, economy to be PTI govt's priority'

ISLAMABAD: Board of Investment (BOI) Chairman Zubair Gilani Sunday welcomed the decision of relocating Chinese manufacturing units to Pakistan and said the step would revolutionise the industrial sector and boost exports.

"The relocation of Chinese manufacturing units to our Special Economic Zones (SEZs) will not only enhance the industrial growth but will also help increase Gross Domestic Product (GDP)," Gilani said.

He said that a number of Chinese companies had expressed willingness to shift their businesses to Pakistan in the second phase of industrialisation under China-Pakistan Economic Corridor (CPEC).

The BOI chaiman observed that during the first wave of relocation in 2006, the Chinese industrial units mostly shifted to South East Asian countries including Vietnam and Malaysia who were now leading the whole region in exports.

Gilani maintained that the Chinese manufacturing units in textile, leather, engineering and electronic goods would also be relocated to major industrial cities of Pakistan including Faisalabad and Karachi.

He noted that after the second phase of relocation, the local industrialists can go for joint ventures to share their expertise in manufacturing for the growth of local industry.

Gilani said that knowledge-based business and economy would be the priority of the government to compete with developed countries.