ISLAMABAD, JULY21: A joint venture strategy between Chinese and Pakistani enterprises and commercial organizations has been developed; as per the details, Chinese corporations will be asked to invest in seven significant and prominent sectors of Pakistan.
Additionally, 167 company organizations from Pakistan and 78 business organizations from China will take part in this massive session, which is anticipated to significantly advance the investment industry.
This was stated in the briefing for the combined Board of Investment meeting, which was presided over by federal ministers Jam Kamal Khan and Abdul Aleem Khan. Abdul Aleem Khan, the Federal Minister of Investment Board, Privatization, and Communications, stated that with the assistance of Chinese businesses, Pakistan’s trade volume might rise by $1 billion. According to him, Pakistan is unquestionably a more desirable and significant country for China to invest in than Bangladesh, India, Vietnam, and other nations in the area given the current circumstances.
Aleem Khan gave the Board of Investment executives instructions to quickly finalize arrangements with businesses that must participate in “Joint Ventures” for joint investment. He went on to say that in order to help businesses in China as much as possible, the Pakistani Embassy in Beijing should also be brought on board for this reason. Aleem Khan stated that in order to guarantee the most coordinated efforts for investment, the ministries of Foreign Affairs, Trade, Industry and Production, Food Security, and Maritime should also be kept informed.
According to Aleem Khan, new industries ought to be founded in industrial free zones or other locations with the greatest potential for electrical supply. Aleem Khan additionally requested that the pertinent authorities provide the prime minister with the specifics of the Pakistan-China trade road map and provide guidance for future developments in this area.
During the briefing on Chinese companies’ investment, Federal Minister of Commerce Jam Kamal Khan also stated that the Ministry of Commerce has been directed to completely collaborate and coordinate with the Board of Investment.During a briefing, the Federal Secretary for the Board of Investment stated that the seven main industries in Pakistan are the waste and fodder, apparel, plastics, leather, edible meat, fruits, and vegetables, and medical and surgical equipment.
He said that the initial homework has been finished and the Board of Investment is ready to welcome Chinese enterprises and pair them with Pakistani equivalents. During the briefing, he also gave a comparative review of other areas.
