Pakistan seeks greater investment from China

Chinese investors should explore more investment opportunities in industrial, agricultural and technological sectors, as Pakistan wants to see greater investment from China owing to the special relationship between the two sides, said Federal Minister for Planning, Development and Special Initiatives Asad Umar.

Chairing a meeting on Monday with Chinese companies working in Pakistan, the minister solicited support of these firms in order to attract foreign direct investment (FDI) from Beijing.

On the occasion, Special Assistant to Prime Minister on China-Pakistan Economic Corridor (CPEC) Affairs Khalid Mansoor underlined that phase-II of the megaproject was aimed at enhancing bilateral cooperation in industrial, technological and agricultural sectors.

“Business-to-business collaboration will be the hallmark of the second phase,” he remarked. The special aide revealed that four out of nine agreed Special Economic Zones (SEZs) along with the Gwadar Free Zone, being developed under CPEC, were at advanced stages of development and investors had started to populate these SEZs.

“Pakistan offers regionally competitive incentives in the SEZs including 10-year income tax exemption and customs duty exemption on import of capital goods,” he pointed out.

The CPEC Authority was also setting up a facilitation centre for CPEC investors, he added. Appreciating the event, the Chinese ambassador underlined that Chinese firms would work closely with the CPEC Authority to ramp up business and investment activities in Pakistan.

Representatives and chiefs of over 70 Chinese companies participated in the meeting, organised by the CPEC Authority, and presented their ideas and suggestions for the consideration of Pakistan government