Gilgit-Baltistan marked a historic milestone at the 2nd Pakistan–China Business-to-Business (B2B) Investment Conference, where two Memorandums of Understanding (MoUs) were signed.
The first MoU was finalised between the Government of Gilgit-Baltistan and Iron Brothers International, a renowned Chinese company, for the establishment of the Gilgit-Baltistan Special Economic Zone (SEZ) under CPEC. The project, long pursued by the provincial government, is expected to host multiple industries and generate approximately 10,000 jobs upon completion.
The second MoU was signed with a leading Chinese company in the drip irrigation sector, expected to revolutionise agriculture across the region by introducing modern water-efficient systems.
Progress was also made in other sectors. Two major firms exchanged Letters of Intent (LoIs) in the energy sector, while discussions on constructing “Low Chain Flats” in the real estate sector are nearing conclusion.
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The Gilgit-Baltistan Board of Investment (GB-BOI), led by Chairman Fatehullah Khan and Director General Shahid Ali, represented the region at the conference with robust support from the provincial government, Chief Secretary GB, the Federal Government, the Federal Board of Investment, the Special Investment Facilitation Council (SIFC), and the Pakistan Embassy in China.
