JVs strategy evolved: Chinese companies will be invited to invest in 7 major sectors

ISLAMABAD: Strategy for joint ventures among various companies and business organisations of China and Pakistan has been evolved, and according to details, Chinese companies will be invited here to invest in seven major and important sectors of Pakistan.

Moreover, 78 business organisations from China and 167 from Pakistan will participate in this gigantic session which is expected to make great progress in the investment sector.

This was expressed in the briefing of the joint meeting of the Board of Investment headed by federal ministers, Abdul Aleem Khan and Jam Kamal Khan. Federal Minister of Investment Board, Privatization and Communications Abdul Aleem Khan said that it is possible to increase the trade volume of Pakistan by one billion dollars with the cooperation of Chinese companies. He said that there is no doubt that the ground realities and current conditions as compared to Bangladesh, India, Vietnam, and other countries in the region, Pakistan is a more attractive and important country for China in terms of investment.

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Aleem Khan directed the high-up’s of Board of Investment to immediately finalise details with companies who have to go in “Joint Ventures” for mutual investment. He added that for this purpose Pakistani Embassy in Beijing should also be taken on board so that companies in China could be facilitated as much as possible. Aleem Khan said that the ministries of Foreign Affairs, Trade, Industry and Production, Food Security and Maritime should also be taken in the loop for ensuring maximum coordinated efforts for investment. Aleem Khan said that new industries should be established in industrial free zones or in the areas where maximum electrical supply is possible. Aleem Khan also asked the relevant authorities to submit the details for Pakistan-China trade road map to the prime minister and get directions for further progress in this regard.

Federal Minister for Commerce Jam Kamal Khan also expressed in the briefing session regarding the investment of Chinese companies and said that the Ministry of Commerce has been instructed to fully coordinate and cooperate with the Board of Investment.

Federal Secretary for Board of Investment, while giving a briefing, said that the seven major sectors of Pakistan include medical and surgical equipments, plastics, clothing, leather industry, edible meat, fruits and vegetables and waste and fodder sectors are included.

He told that the Board of Investment is fully prepared to invite Chinese companies and associate them with Pakistani counterparts while initial homework has also been completed. He also presented a comparative review of various sectors during the briefing.

Copyright Business Recorder, 2024