Prime Minister Imran Khan speaks at China Council of International Trade in Beijing. PHOTO: NNI
Prime Minister Imran Khan held a series of meetings in Beijing with the representatives of Chinese companies, assuring them of his government's efforts for ease-of doing-business and encouraging them to invest in Pakistan at this "great time of doing business".
"President Xi waged one of the biggest crusades against corruption and I want to do the same, but unfortunately our system is too cumbersome to handle it," the prime minister said in his address at the China Council for Promotion of International Trade (CCPIT).
Imran mentioned the effective accountability system in China, where a corrupt mayor was convicted in just five days on charges of stashing tons of gold in the basement of his house. He said an end red-tapism – another form of corruption – and the promotion of merit were his top priorities.
He said China's exemplary step of taking its 700 million people out of poverty in 30 years was a source of learning for Pakistan. Also, Pakistan could acquire expertise from Chinese model of business, investment and wealth creation, he added.
Prime Minister Imran invited the Chinese companies to invest in diverse sectors of Pakistan, including housing, textile, manufacturing, information technology, financial services, physical and technological logistics, agriculture, oil and gas and tourism and hospitality.
He said all investments related to the China-Pakistan Economic Corridor (CPEC) would now be dealt from the Prime Minister's Office in order to remove all hurdles faced by investors. "We have formed the CPEC Authority so that my office can make it easier for people investing in Pakistan," he said.
"Pakistan has completed Phase-I of Gwadar Free Zone and the country is encouraging businesses to make big profits, as the wealth creation will enable us to lift the people out of poverty on the pattern of China," the prime minister elaborated.
Imran said the second phase of CPEC would focus on industrial and agriculture cooperation. "We want to learn from the experiences of China to enhance the productivity of our agriculture sector," he added.
Citing reasons to invest in Pakistan, Imran said that the formation of special economic zones (SEZs) has come a long way. "It's an exciting time in Pakistan as we open up our country for business," he said. "It is a great opportunity … we want businesses to come and make money."
Imran touted Pakistan's unique geo-strategic location and its young and vibrant population as incentives for the Chinese firms to invest in the country. "Our labour cost is only about 20% of what is in China," he said.
The prime minister noted that the security situation had improved in Pakistan due to the efforts of security forces and intelligence agencies. "Pakistan is one of the safest places for investment in the world. We have established a special security force for the protection of Chinese workers."
He said the present government had also liberalised the visa regime and the Chinese could get the visas on arrival at the airport. He added this facility has been extended to many other countries as well.
Prime Minister Imran also held a separate meeting with China Gezhouba Group Chairman Lyu Zexiang and the head of the China Metallurgical Group Corporation, the longest running construction group in China's iron and steel industry.
The China Gezhouba Group Corporation (CGGC), founded in 1970, is one of the most competitive listed companies with very strong financing capabilities. The CGGC has expanded its business in more than 100 countries and regions.
In another meeting, the prime minister met chief executive officer of the Long March Tyre Company Li Qingwen and discussed investment and business scenario. Also, Chairman of Board Orient Holdings Group Limited Jiang Xueming called on the prime minister.
Foreign Minister Shah Mahmood Qureshi, Planning Minister Khusro Bakhtiar, Railways Minister Sheikh Rashid, Commerce Adviser Razak Dawood, Special Assistant Nadeem Babar and Chairman Board of Investment Zubair Gillani, were also present in the talks.
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