BEIJING, July 11 (APP):Federal Minister for Planning, Development and Special Initiatives, Prof Ahsan Iqbal briefed the Chinese companies on the latest steps taken by the Government of Pakistan to facilitate investment and stated that Phase II of the China-Pakistan Economic Corridor (CPEC) was increasing the bilateral cooperation in industrial, infrastructure and information technology sectors.
The minister hosted a dinner for the Chinese Companies working in Pakistan on CPEC-related projects, in Beijing.
The dinner was organized as part of celebrations of the Decade of CPEC (2013-23) to acknowledge the contributions of Chinese enterprises and companies in Pakistan’s development through CPEC-related projects.
Addressing the participants, he also emphasized on business-to-business collaboration would be the hallmark of this phase of CPEC.
The minister also highlighted that the Government of Pakistan had formulated a Special Investment Facilitation Council (SIFC) for the economic revival of the country.
The SIFC will be chaired by the Prime Minister of Pakistan, with the Chief of Army Staff and Federal Ministers as its members. This is in line with the Government of Pakistan’s vision to promote investment and prioritize exports.
Prof Ahsan Iqbal encouraged Chinese enterprises and investors to explore more investment opportunities in Pakistan.
He said both China and Pakistan would benefit from greater Chinese investment in Pakistan. It would not only support Pakistan’s economy but would provide an avenue for Chinese companies to sell products manufactured in Pakistan into the Chinese market and elsewhere in the world.
He solicited the support of Chinese Companies working in Pakistan to attract more foreign direct investment from China into Pakistan.
The minister recalled that the CPEC journey had started during Prime Minister Nawaz Sharif’s visit to China and within a few years it grew to encompass more than 25-billion-dollar projects, ranging from energy to infrastructure and information technology.
He appreciated the active role and support of Chinese leadership and enterprises in this endeavour, in particular during Pakistan’s economic hardship.
The dinner was followed by a cake-cutting ceremony to commemorate the Decade of CPEC (2013-23).
Chairmen, Presidents and senior representatives of over 20 Chinese companies and enterprises participated in the event, which also provided them an opportunity to share their ideas and suggestions for further increasing the mutually beneficial cooperation between Pakistan and China.
The minister is on a visit to China (9-12 July 2023) during which he will lead Pakistan’s delegation to the 12th (Special) JCC Meeting.