Chinese entrepreneurs all set to relocate industries in Pakistan

Govt designs plan to enlist Chinese experts to establish Business Facilitation Centre in Islamabad

Web Desk (Thursday, June 27):-

With objectives to enhance cooperation between Pakistan and China on practical grounds engagements, Pakistan is taking serious step to facilitate Chinese companies to relocate their industries in Pakistan.

Prime Minister Shehbaz Sharif on Wednesday following the agreement to enhance joint ventures between Pakistani and Chinese companies formally approved the relocation of Chinese industries to Pakistan as part of joint ventures between companies of Pakistan and China.

Prime Minister Shahbaz Charing a meeting of the Board of Investment (BoI), said that promoting both local and foreign investment in Pakistan was among the government’s priorities.

The premier said the government was taking all possible steps to create a business-friendly environment for traders and investors from both the sides.

It is also worth to be noted here that Prime Minister Shahbaz Sharif during his recent visit to China has signed MoUs with Chance companies on B2B basis to enhance bilateral cooperation Nd trade.

In view of the agreements signed in Shenzhen, Government of Pakistan is devising policy to make facilities for Chinese companies to relocate their industries in different cities of Pakistan.

The government of Pakistan has also review the draft law for Special Economic Zones One-Stop Shop in light of developments following the MOUs signed with Chinese companies in Shenzhen.

Pakistan has the potential for relocating China’s textile, leather, footwear and other industries to Pakistan and Pakistan is committed to facilitate this relocation with objectives to make ease for Chinese firms to operate from Pakistan.

Prime Minister Shahbaz Sharif’s meeting with BOI also highlighted plans to enlist Chinese experts to establish a Business Facilitation Centre in Islamabad.

Additionally, the draft of the ‘Easy Business Act’ will be forwarded to the Cabinet Committee for Legislative cases.