Prime Minister Shehbaz Sharif, in a meeting on Wednesday, approved the formation of joint ventures between Chinese and Pakistani firms aimed at relocating Chinese industries to Pakistan. Chairing a Board of Investment (BoI) session, he underscored the government’s commitment to enhancing domestic and foreign investment in Pakistan. Sharif directed officials to provide a detailed progress report on the MoUs signed with Chinese enterprises during his recent visit to Shenzhen, China.
He also called for a review of the draft legislation for Special Economic Zones following developments subsequent to his China trip. Emphasizing the potential in sectors like textiles, leather, and footwear, Sharif highlighted Pakistan’s attractiveness for Chinese industrial relocation.
During the briefing, the BoI secretary mentioned ongoing efforts to facilitate the relocation of Chinese industries to Pakistan. Plans included engaging Chinese experts to establish a Business Facilitation Centre in Islamabad, with the ‘Easy Business Act’ draft forwarded to the Cabinet Committee for Legislative Cases.
Attendees at the meeting included Federal Ministers Abdul Aleem Khan, Jam Kamal, Muhammad Aurangzeb, Dr. Musadik Malik, Prime Minister’s Coordinator Rana Ehsan Afzal, and other senior officials.
