Prime Minister Shehbaz Sharif approved joint ventures to move Chinese industries to Pakistan, aiming to boost the China-Pakistan Economic Corridor (CPEC) after his recent visit to Beijing.
In a meeting about the Board of Investment (BoI), he stressed the government’s commitment to encouraging local and foreign investment.
He highlighted the PML-N government’s efforts to create a business-friendly environment. During his Shenzhen visit, the PM asked for a detailed report on the agreements made between Pakistani and Chinese companies. President Xi Jinping emphasized promoting CPEC and signed 31 MoUs in various sectors.
The PM called for a review of laws for Special Economic Zones (SEZs) and noted the potential for relocating Chinese textile, leather, and footwear industries to Pakistan. The BoI is working on establishing a Business Facilitation Centre and an “Easy Business Act.”
Federal ministers and senior officials attended the meeting. Xi Jinping assured support for Pakistan’s development and security for Chinese projects. China has significantly invested in Pakistan, particularly through CPEC, since its announcement in 2013.