ISLAMABAD: Prime Minister Imran Khan, on Monday, launched the Pak-China Business Investment Forum (PCBIF) aimed at enhancing information exchange and promoting communication between businesses of the two countries, thereby opening up new avenues of cooperation.
Addressing the launching ceremony, Minister of State and Chairman BoI Azfar Ahsan said that the BOI is leading Phase-II of the CPEC, i.e., industrial cooperation, which envisages the establishment of the Special Economic Zones (SEZs) and fostering business-to-business (B2B) collaborations between Pakistani and Chinese enterprises; thereby, paving way for the meaningful colonisation of the SEZs.
Elaborating on investment environment of the country, the chairman BOI added that enhancing investor confidence and creating a conducive environment to attract local and foreign investment through various impact-full initiatives is a cornerstone of Pakistan’s investment regime.
“The addition of PCBIF under the auspices of BOI and APCEA is another milestone-initiative that will prove to be a catalyst in enhancing the business-to-business ventures between Pakistani and Chinese companies,” the chairman BOI said.
The chairman also expressed hope that the launch of the PCBIF will not only contribute to enhance business-to-business ties but will also build people-to-people relations between the all-weather friends.
The forum consists of 18 Chinese and 19 Pakistani companies and its objective is to promote sustainable investment, export industry and development of modern technology in Pakistan and has been formed with the collaboration of the BOI, Pakistan and the All-Pakistan Chinese Enterprises’ Association (APCEA).
The PCBIF Constitution devised by the APCEA and the BOI was signed at the launching ceremony and comprises leading Pakistani and Chinese companies as part of the steering committee.
The APCEA is the representing body of all Chinese companies operating in Pakistan, which has been mandated by the Chinese Embassy to join hands with the BOI for establishment of the PCBIF.
“This forum will rejuvenate further avenues of bilateral investment cooperation in the form of joint ventures (JVs) and other mutually-beneficial partnerships,” Azfar Ahsan said.
Copyright Business Recorder, 2022