Pakistan and China have maintained their life-long positive political relationship for decades now. The friendship is advancing to the point that the citizens from both countries are comfortable with investing and initiating businesses with each other. Relating to this, now around 55 Chinese companies wish to invest in Pakistan.
Even Prime Minister Imran Khan said that he encourages such interest because it will benefit Pakistan. He also claims China as a trusted partner. So, the Chinese companies desire to develop industries within Pakistan displays their confidence within the country.
Chinese Companies Working In Pakistan – Where Will This Take The Country?
On Friday, many Chinese companies addressed that they were comfortable in investing about $5 billion in Pakistan within the coming years. They are committing to investing in multiple industrial sectors. A statement said, “Chinese business executives expressed confidence in the business-friendly policies of the government and committed to investing USD 5 billion over a period of five years in various small and medium-size industrial sectors,”
There are diverse sectors that the Chinese business delegation mentioned. This includes construction, automobile, power, information technology, machinery, construction, glass, etc. Moreover, this seems like the largest Chinese delegation to visit Pakistan. The Prime Minister’s efforts towards strengthening further ties with China are seeing light. Once again, Khan had visited China to approve of some agreements that would intensify the bilateral cooperation between the two countries. Furthermore, he said that such interests for investing are important because they highlight the trust between Pakistan and China. Chinese companies showing interest in Pakistan serves as a direction towards optimistic economic changes.
“Our Government is facilitating investors and reducing impediments in ease of doing business’. Partnership with Chinese companies and their investment will reap multiple benefits for both the countries including employment generation, transfer of technology and economic growth,” said Khan.
The Chinese Ambassador Yao Jing said that the Chinese investors will look into developing a stable Pakistan, by referring to the future of country as ‘Naya Pakistan’.
As always, the government is also focusing on CPEC as it is definitely the number one factor for the betterment of Pakistan’s economy. “Fast-track implementation of the CPEC projects is our priority for which a special unit is overseeing implementation of various projects in the Planning Division,” said Khan.
The Federal Minister for Planning, Development, and Reforms, Makhdoom Khusro Bakhtiar said that the government will be establishing the CPEC authority for speeding up projects. Within a press conference, Khusro said that this would assist in developing country ties as well as achieving economic goals. “We would soon come up with bill so that the CPEC authority is established as soon as possible,” he added.
Reassuring regarding the talks between the countries, Khusro informs that by the end of October there would be a ninth annual Joint Coordination Committee (JCC) about CPEC. The project is experiencing progress, slowly yet surely.
What do you think of the situation? Will such investment be helpful for Pakistan in the long run? Should so many of these Chinese companies be allowed to invest in Pakistan, and vice versa? Share your thoughts.