Prime Minister Shehbaz Sharif Saturday said shifting Chinese industries to Pakistan will improve the economy, create new employment opportunities, and increase exports, Radio Pakistan reported on Saturday.

He was chairing a meeting in Islamabad to review progress over agreements made during his visit to China.

The development comes weeks after PM Shehbaz 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.

In today’s meeting, the premier directed that no delay would be tolerated in implementing the MoUs with China.

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He said China is a longtime friend of Pakistan that has helped it in every difficult time and the Chinese leadership is determined to further increase investment in Pakistan.

On the occasion, a comprehensive road map was presented for the transfer of Chinese industries in Pakistan under which partnerships will be signed with Chinese companies for shifting China’s textile, plastic, leather medical, and surgical equipment industries to Pakistan.

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The Board of Investment presented a progress report regarding interest shown by seventy-eight Pakistani companies to cooperate with Chinese companies for this purpose.

The Prime Minister appreciated the steps and recommendations of the Board of Investment in this regard.

He directed the relevant authorities to extend full facilitation to Pakistani companies for collaboration with Chinese companies.