China to encourage its private sector to set up industrial units in Pakistan

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KARACHI: Government of Peoples Republic of China will motivate its private sector to invest in industrial projects across Pakistan particularly in the southern deep sea port of Gwadar, said Dr. Mu Youngpeng, Deputy Consul Genera of China.

Talking to local journalists during a dinner hosted by him last evening, he said setting up industries and associated schemes are possible once infrastructure is in place.

He expressed his confidence that significant investment with direct bearing on the lives of general public and national economy could be witnessed once the ongoing development work is completed.

The Deputy C.G. of China said Gwadar is of immense importance for Pakistan and it must be understood by all that transformation of a city does not precede a rocket science.

He on the occasion extensively referred to Shenzhen, a south eastern city of China and an underdeveloped area only a couple of years ago that is now a city connecting Hong Kong to mainland China.

“It has become the centre of attraction because of the developed industrial base,” he said.

Youngpeng said Chinese government offered tax incentives, free water and other free utilities to attract investment in the area despite reservations from anti-incentives circles.

“How come we may ask investors to come until there is a proper road network,” he said.

The diplomat said under the CPEC announced in 2014, a number of Chinese companies have partnered with Pakistani government to develop the chantries dilapidated road and deteriorating energy infrastructure.

The CPEC is financing rail-based mass transit, special economic zones, energy, infrastructure development and Gwadar-related projects, Youngpeng said.

He reminded that Chinese government has initiated infrastructure development with major focus on construction of roads, sea port development and building an airport in Gwadar.

In reply to a question, he said responsibility now lies on the part of the government to provide basic utilities in the area.

Mentioning that China started $57-billion China-Pakistan Economic Corridor (CPEC) connecting its southern western province Xinjiang, across Pakistan, to Persian Gulf, he said Gwadar is the southern centerpiece of China’s ambitious plan of building energy and infrastructure.

“Inception of transportation on the corridor has already fuelled trading activities in the Balochistan’s city of Gwadar,” he said.

The Deputy Consul General to another question said the government can follow Shenzhen-style development in Gwadar.