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Thursday March 28, 2024

‘Pakistan ideal destination for Chinese investors’

By our correspondents
December 12, 2017

ISLAMABAD: Deputy Chairman Planning Commission Sartaj Aziz Monday said Pakistan is an ideal destination for Chinese investors due to goodwill for Chinese and potential of investments in the China Pakistan Economic Corridor (CPEC), which has changed the economic outlook of Pakistan and which is being acknowledged globally.

“Relations between Pakistan and China have become a model of state to state relations and China has become a reliable partner in our national development efforts,” said Sartaj Aziz while addressing a five-dozen-member Chinese business delegation that is currently visiting Pakistan.

“Pakistan’s macro-economic indicators continue to improve and solidify grounds for a sustained upward growth trajectory because key constraints impeding the economy from achieving high growth such as power supply and security situation have improved,” he said.

He said real GDP growth increased last year to a decade high of 5.3pc. He said supportive policies like historic low interest rate, high infrastructure spending and better law and order has encouraged a number of firms to pursue expansion plans.

Sartaj Aziz said the government has announced an incentive package for exporters and this will provide opportunity to private sector and foreign investors to fully benefit from these conditions by modernising their business processes, investing in research and development, improving human capital, seeking international certifications and meeting quality standards.

Sartaj Aziz said that CPEC is most important pillar of One Belt One Road (OBOR) initiative and both the countries have agreed to build roads, railways and oil and gas pipelines under this project. He said that nine special economic zones will be built under CPEC which will be open for all investors across the world. He further said that Chinese technical standards are widely accepted and if those are adopted in sectors like agriculture and livestock, minerals, textile, sports and surgical goods, then these could become important export items for China and rest of the world.

The deputy chairman said that government of Pakistan will ensure seamless security for the Chinese friends. In this regard, he said, a special security division has been raised and same arrangement will be made for investors as well.

Speaking on the occasion, chairman Board of Investment (BoI) said Pakistan has overcome the challenges that hampered economic growth in the past. “Best infrastructure, surplus power generation and improved law and order situation has made Pakistan ready for a take-off,” he said.

He expressed optimism that Pakistan would achieve the set goal of economic growth up to 5.8 percent.

Additional Secretary Planning Zafar Hassan, Project Coordinator CPEC Hassan Daud and Director BoI Abdul Sami also briefed the participants about CPEC projects and Pakistan’s investment policy and incentives being offered to populate CPEC special economic zones.

The Chinese delegation include businessmen and investors from different fields including construction industry, light manufacturing, automobile, hotel and tourism, textile, steel and mining sector.

The delegation expressed deep interest in investment in Pakistan.

The Chinese businessmen said that their companies are ready to heavily invest in mining, steel, light manufacturing, construction and other sectors and this visit has provided them an option to explore the opportunities.