KARACHI: Pakistan Ambassador to China Khalil Hashmi represented Pakistan at the 9th Belt and Road Summit in Hong Kong under the theme “Building a Connected, Innovative, and Green Belt and Road.”

The summit gathered international leaders, business representatives, and industry experts to discuss the Belt and Road Initiative’s (BRI) future, emphasizing the importance of global partnerships and sustainable development in leveraging Hong Kong’s unique strengths.

The Ambassador of Pakistan expressed how China-Pakistan Economic Corridor (CPEC) had transformed Pakistan’s economic landscape over the past decade. He explained that the project had created significant employment opportunities and added 8,000 MW to the national power grid, while developing 800 km of road networks and transmission lines.

Khalil Hashmi further stated that CPEC’s next phase would evolve into a multidimensional corridor focused on growth, innovation, and inclusiveness, aligned with Pakistan’s “5Es” strategy, which centers on exports, digital transformation, climate change, energy, and equity.

The Ambassador highlighted Pakistan’s burgeoning IT sector, noting its rapid expansion supported by a growing internet user base and cellular connections. He remarked that Pakistan’s fintech sector, though nascent, presented substantial opportunities for Hong Kong-based firms to introduce digital banking platforms and blockchain solutions. He emphasized that while the demand for innovative financial solutions is rising, fintech startups in Pakistan require venture capital investments, which Hong Kong is well-positioned to provide.

The Ambassador also stressed Pakistan’s commitment to sourcing 30% of its energy from renewables by 2030.

Copyright Business Recorder, 2024