The joint venture proposal between Chinese and Pakistani enterprises, which aims to relocate Chinese industries to Pakistan, was approved by Prime Minister Shehbaz Sharif on Wednesday.
During a meeting today to review the problems facing the Board of Investment (BOI) in Islamabad, the PM approved this project. He underlined the government’s resolve to boost investments from both abroad and domestic sources.
A thorough status report on the Memorandum of Understanding (MoU) signed by Chinese and Pakistani businesses during Shehbaz’s most recent visit to Shenzhen was called in.The prime minister emphasized the potential for economic expansion and gave the go-ahead for the Special Economic Zones draft bill to be revised.
The participants at the meeting were given a briefing by the Secretary of the Board of Investments (BOI) regarding the initiatives being taken to assist the transfer of Chinese enterprises and the plans to involve Chinese specialists in the establishment of the Islamabad Business Facilitation Center. Additionally, the gathering was informed that the Cabinet Committee on Legislative Affairs will shortly receive the draft of the Ease of Doing Business Act.
