ISLAMABAD: Prime Minister Shehbaz Sharif has given approval to the joint venture project between Chinese and Pakistani companies regarding the transfer of Chinese industries to Pakistan.

The approval was given by the prime minister while presiding over the important meeting on the matter pertaining to the Board of Investment (BoI) on Wednesday.

He said the promotion of internal and external investment in Pakistan is the first priority of the government and the government is taking all possible steps to provide a business friendly environment for traders and investors.

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The prime minister directed to submit a comprehensive report on the progress of MoUs between Pakistani and Chinese companies in Shenzhen during his visit to China.

He also directed to revise the Special Economic Zones One Stop Shop Law in the context of developments after his visit to China.

There is a great potential for relocation of China’s textile, leather, footwear and other industries in Pakistan, added the prime minister.

While briefing the meeting, the BoI secretary stated that steps are being taken regarding relocation of Chinese industries to Pakistan.

The meeting was told that Chinese experts are being hired for the establishment Business Facilitation Centre in Islamabad. A draft Ease of Doing Business Act will be sent to the Cabinet Committee on Legislative Affairs soon.

Copyright Business Recorder, 2024