Prime Minister Shehbaz Sharif has approved a joint venture project between Chinese and Pakistani companies aimed at transferring Chinese industries to Pakistan, with the goal of boosting investment in the country. This decision was made during a high-level meeting focused on the Board of Investment in Islamabad.
In the meeting, PM Shehbaz assured Chinese investors that Pakistan is implementing measures to enhance governance. He instructed for a detailed report on the progress of the Memorandums of Understanding (MoUs) signed between Pakistani and Chinese companies during his visit to Shenzhen, China. Additionally, he called for the revision of the Special Economic Zones One Stop Shop Law to reflect developments from his recent China visit.
The Prime Minister emphasized the government’s commitment to creating 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 briefing, the Secretary of the Board of Investment mentioned ongoing efforts to facilitate the relocation of Chinese industries to Pakistan. Chinese experts are being engaged to help establish the Islamabad Business Facilitation Center. Moreover, a draft of the Ease of Doing Business Act is being prepared for submission to the Cabinet Committee on Legislative Affairs.
