ISLAMABAD: The government on Monday hosted a marketing session for about 70 Chinese companies as it seeks to spark the alternate phase — artificial development — of the China-Pakistan Economic Corridor (CPEC).
CPEC Authority (CPECA) president Khalid Mansoor briefed the principal superintendent officers and representatives of the Chinese companies on rearmost developments on the CPEC horizon, colorful business openings, and impulses for investment.
Minister for Planning and Development Asad Umar, the Board of Investment president and Chinese minister in Islamabad also attended the session. Some Chinese companies joined it through videotape links.
Mr. Mansoor told the Chinese companies that phase-II of the CPEC was aimed at enhancing bilateral cooperation in artificial, technological, and agrarian sectors for which business-to-business collaboration would be a hallmark of success and openings, according to a sanctioned statement.
He stressed that four out of the nine agreed on special profitable zones (SEZs) along with Gwadar Free Zone under the aegis of CPEC were now at an advanced stage of development and investors had started colonizing these SEZs.
“ Pakistan offers regionally competitive impulses in SEZs, including 10- time income duty impunity and impunity of customs duty on import of capital goods,” he said, adding that the CPECA was setting up a facilitation center to give all kinds of support to the CPEC investors. This will be a platform for serving as a one-window operation for the investors through collaboration with colorful ministries as well as businesses.
Explaining the significance of phase-II of the bilateral cooperation, the CPECA president said the crucial ideal was to accelerate the socio-profitable development of Pakistan by bringing artificial, technological, and agrarian revolution through Chinese investment and transfer of technology.
For this to achieve, he added, the focus was on import growth (in areas like fabrics, information technology, etc) and import negotiation (like a sword, agrarian productivity, etc) sectors by creating original employment openings and promoting common gambles to make Pakistan a manufacturing mecca.
Mr. Mansoor said the CPECA would enable‘ plug & play terrain for the development of special profitable zones by empowered SEZs operation companies to grease investors so as to produce strong liaison with crucial state and profitable realities in China.
Asad Umar prompted the Chinese investors to explore further investment openings in artificial, agrarian, and information technology areas. He said that due to a special relationship between the two countries, the government and people of Pakistan would wish to see much lesser investment from China.
He solicited the support of Chinese companies working in Pakistan in order to attract further foreign direct investment in the country.
The Chinese minister expressed his appreciation for the event which brought together all the Chinese companies and said Chinese enterprises would work nearly with the CPEC Authority to increase their business and investment conditioning in Pakistan.
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