Participants of a roundtable discussion called for ending bureaucratic red-tape, terrorism and energy crisis as a prerequisite to woo foreign investment. They highlighted the challenges and opportunities for development in the new emerging economic bonding between Pakistan and China.
The roundtable discussion was organised by the Pakistan-China Institute, here on Wednesday.
According to a press release, the participants spoke about the challenges faced in the development of the Kashgar Economic Zone, which was meant for Pakistan and the Central Asian Republics.
They urged Pakistani government and private companies to enhance their capacities to benefit from the new opportunities and develop viable projects, said a press release by the Pakistan-China Institute.
A Chinese CEO working in Pakistan discussed the obstacles foreign firms have facing due to inflation, bureaucracy, security issues and political instability. The participants also lauded the idea to form “Pak-China Investment Fund”. Majority of the participants were of the view that Chinese funding will be beneficial for boosting the local industry.
Chairman of the institute, Senator Mushahid Hussain stressed that bureaucratic red-tape was one of the dire issues, hampering foreign investment in the country citing the cases of Thar coal and Nandipur projects in this regard.
“A Greater South Asia is emerging, which includes China, Myanmar, Iran and Afghanistan, linking up with Central Asia and Southeast Asia is moving dynamically and contributing its positive role in each and every field,” he added.
Veteran journalist M. Ziauddin in his concluding remarks stressed the need for increased investment from China, and on realizing its significance as a commercial hub.
Published in The Express Tribune, July 18th, 2013.