Joint ventures under CPEC face problems

The increasing number of joint ventures between Pakistan and China under the China-Pakistan Economic Corridor (CPEC) are confronted with some practical difficulties, said Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President Wang Zihai.

In an online address to the PCJCCI executive committee on Thursday, he called for the swift resolution of issues and removal of impediments.

“The government of Pakistan is fully cognisant of the issues and this has led to the creation of alternative dispute resolution courts in the country,” he acknowledged.

The joint chamber has established an online platform to provide assistance in solving the problems and issues of Chinese companies pertaining to domestic policies and regulations.

He hailed the initiative of the chamber to facilitate foreign investors who entered into business partnerships with Pakistani entrepreneurs.

He believed that the collaborative efforts of Pakistan’s government and the PCJCCI would help stabilise Chinese investment in Pakistan. In this regard, he hoped that the online information portal of the PCJCCI would prove helpful for both domestic and Chinese investors.

Read CPEC Authority hailed over investment prospects meeting

Speaking on the occasion, PCJCCI Senior Vice President Ehsan Chaudhry assured the participants that the interest of investors engaged in joint ventures under CPEC would be protected.

“Along with the online platform, the PCJCCI will keep on playing a proactive role in overcoming the difficulties faced in the implementation of joint ventures being established in collaboration with foreign firms,” said Chaudhry.

PCJCCI General Secretary Salahuddin Hanif said that the online platform had displayed information about commercial courts and agricultural and industrial cooperation between the two countries, aimed at enhancing partnerships under CPEC.

He stated that in recent years, several states and municipalities had established new commercial courts, which were seen as building blocks for economic development and global commerce.

“PCJCCI is keen to help set up more commercial courts in Pakistan including those that are designed primarily for domestic disputes,” he added.

Published in The Express Tribune, November 19^th, 2021.

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