ISLAMABAD: Pakistan’s economy is showing signs of stabilization, due to various agreements with China and the efforts of the Special Investment Facilitation Council (SIFC).
One of the primary goals of the SIFC is to promote foreign investment to revitalize the country’s economy. Recent agreements related to the China-Pakistan Economic Corridor (CPEC) and Memorandums of Understanding with China reflect increasing confidence among foreign investors in Pakistan.
Pakistan hosted the Shanghai Cooperation Organization Summit, attended by leaders and delegates from various countries, including the Chinese Premier.
During this visit, several key Memorandums of Agreement were signed including a $6.8 billion investment for the ML-1 Railway project, which will be completed in three phases. Moreover, additional projects include a motorway from Sukkur to Hyderabad and upgrades to the Karakoram Highway.
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In collaboration with the SIFC, agreements were also reached on cooperation in areas such as food security, health, and education. Furthermore, Memorandums of Understanding were signed on currency exchange between the State Bank of Pakistan and the People’s Bank of China.
The Prime Ministers of Pakistan and China inaugurated the Gwadar International Airport under the CPEC initiative.
