ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif on Wednesday approved the joint ventures between Chinese and Pakistani companies aimed at relocating Chinese industries to Pakistan.
Chairing a meeting to discuss matters of the Board of Investment (BoI), Shehbaz Sharif emphasized the government’s commitment to fostering local and foreign investment. He said that creating a conducive business environment is the government’s top priority.
During the session, the prime minister instructed officials to present a detailed report on the progress of Memorandums of Understanding (MoUs) signed between Pakistani and Chinese companies during his recent visit to Shenzhen, China.
He also called for a review of the draft legislation for the Special Economic Zones One Stop Shop, considering developments since his trip to China.
Shehbaz highlighted the potential for relocating China’s textile, leather, footwear, and other industries to Pakistan, aiming to capitalize on this opportunity.
Meanwhile, the Board of Investment Secretary briefed attendees on the ongoing efforts to facilitate the relocation of Chinese industries, including the engagement of Chinese experts for establishing a Business Facilitation Centre in Islamabad and the submission of the draft “Easy Business Act” to the Cabinet Committee for Legislative Cases.
The meeting was attended by key officials including Federal Minister for Privatization and Investment Abdul Aleem Khan, Federal Minister for Commerce Jam Kamal, Federal Minister for Finance and Revenue Muhammad Aurangzeb, Federal Minister for Petroleum Dr. Musadik Malik, Prime Minister’s Coordinator Rana Ehsan Afzal, and other senior government representatives.
