Prime Minister Shehbaz Sharif Wednesday approved a joint venture project between Chinese and Pakistani companies regarding the transfer of Chinese industries to Pakistan, saying that promoting investment in Pakistan was his government’s top priority, Radio Pakistan reported.

The premier gave this approval while presiding over a high-level meeting on matters related to the Board of Investment in Islamabad.

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He directed to submit a comprehensive report on the progress of the Memorandum of Understandings signed between Pakistani and Chinese companies at Shenzhen during his visit to China.

PM Shehbaz further directed the revision of the Special Economic Zones One Stop Shop Law in the context of developments after his recent visit to China.

The premier said the government is taking all possible steps to provide a business-friendly environment to traders and investors.

He stressed there is great potential for relocating China’s textile, leather, footwear, and other industries to Pakistan.

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Briefing the meeting, the Secretary of the Board of Investment said steps are being taken regarding the relocation of Chinese industries in Pakistan.

The secretary said that the services of Chinese experts are being hired for the establishment of the Islamabad Business Facilitation Center.

It was further informed that a draft regarding the Ease of Doing Business Act is also being sent to the Cabinet Committee on Legislative Affairs soon.