Business

Dar invites investment for labour industry

Urges Chinese entrepreneurs to capitalise on favourable policies

APP May 17, 2024

Chinese Foreign Minister Wang Yi and Pakistani Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar attend the fifth round of the China-Pakistan Foreign Ministers' Strategic Dialogue in Beijing on May 15, 2024. PHOTO: XINHUA

BEIJING:

Deputy Prime Minister and Foreign Minister Ishaq Dar reiterated on Thursday that the government’s economic reforms agenda offers attractive incentives for investment, urging Chinese entrepreneurs to capitalise on these friendly policies and establish labour-intensive industries in Pakistan. He highlighted the country’s competitive labour costs, particularly in sectors like agriculture, textiles, mining, and Information Technology (IT), which present significant business opportunities.

Speaking at the Pakistan-China Business Roundtable Conference organised by the Pakistan Embassy in Beijing, Dar stated that the government has accelerated the construction of special economic zones (SEZs) and provided attractive incentives for industrial establishment. He outlined 13 key areas with substantial potential for Chinese and Pakistani entrepreneurs to invest, either through direct ownership or joint ventures with local businesses. Pakistan’s strategic location at the crossroads of Central Asia, Southeast, and the Middle East offers immense potential for export-oriented industries, he noted.

Dar encouraged Chinese companies to engage in value addition and export to the vast markets encompassing a population of nearly one and a half billion. He highlighted preferential market access to major economies such as the European Union, the Gulf, China itself, and other countries with free trade agreements with Pakistan.

Talking about SEZs, export processing zones, Gwadar free zone, and special technology zones, Dar highlighted competitive incentives for Chinese businessmen. He underscored the ongoing privatisation of certain state-owned enterprises, inviting investment from a business perspective. Dar assured the safety of Chinese citizens and institutions in Pakistan, vowing to bring the perpetrators of the Dasu terrorist attack to justice.

Published in The Express Tribune, May 17^th, 2024.

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