HomeBusinessPM Shehbaz approves major Sino-Pak joint venture for industrial relocation and investment...

PM Shehbaz approves major Sino-Pak joint venture for industrial relocation and investment promotion

ISLAMABAD: Prime Minister Shehbaz Sharif, on Wednesday, approved a joint venture project involving Chinese and Pakistani companies for the relocation of Chinese industries to Pakistan. He stated that “promoting investment in Pakistan” is his government’s top priority, according to a report by Radio Pakistan.

The approval was granted during a high-level meeting in Islamabad, focusing on issues related to the Board of Investment.

He instructed officials to submit a comprehensive report on the progress of the Memorandums of Understanding signed between Pakistani and Chinese companies in Shenzhen during his visit to China.

PM Shehbaz also called for the revision of the Special Economic Zones One Stop Shop Law, considering developments following his recent visit to China.

The premier emphasized that the government is taking all possible steps to provide a business-friendly environment for traders and investors.

He highlighted the significant potential for relocating China’s textile, leather, footwear, and other industries to Pakistan.

During the meeting, the Secretary of the Board of Investment briefed attendees, stating that steps are being taken to facilitate the relocation of Chinese industries to Pakistan.

The secretary mentioned that the expertise of Chinese professionals is being utilized for setting up the Islamabad Business Facilitation Center.

Read more: European Aviation Agency Announces Decision on PIA Ban

Additionally, it was reported that a draft of the “Ease of Doing Business Act” will soon be submitted to the Cabinet Committee on Legislative Affairs.



Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!


- Advertisment -

Most Popular