CPEC second phase: Local, foreign investors to be invited

China and Pakistan have agreed to invite foreign and local investors – apart from Chinese investors – to invest in industrial zones under the industrial cooperation, in the second phase of the China-Pakistan Economic Corridor (CPEC). In this respect, the newly-appointed Chinese Ambassador to Pakistan, Nong Rong, called on the Chairman Board of Investment (BoI), Atif R Bokhari. Secretary BoI Fareena Mazhar and Project Director CPEC Asim Ayub were also present on the occasion.

During the meeting, the chairman BoI and Ambassador Nong Rong discussed matters of mutual interest, particularly those relating to industrial cooperation under the CPEC.

The chairman BoI said that both the governments were working together to make the second phase of the CPEC fruitful by attracting quality Foreign Direct Investment (FDI).

The chairman BoI apprised the Chinese ambassador of the Draft Framework Agreement on Industrial Cooperation (IC) under the CPEC. Ambassador Nong Rong said he gave utmost importance to the draft framework agreement and would push it forward to the relevant departments in China. The chairman BoI stated that Pakistan and China had a future together and there was immense potential for people-to-people (P2P) linkages.

After effective government-to-government (G2G) cooperation, both countries were required to embark on a journey of effective business-to-business (B2B) collaboration.

Both sides dispelled the common misperception that the CPEC Special Economic Zones (SEZs) in Pakistan were limited to Chinese companies only.

It was stressed that the SEZs and other industrial cooperation ventures under the CPEC were open to third party participation. It was also stressed that companies and investors from all the countries were welcome.

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Source: Business Recorder  https://www.brecorder.com/news/40038546

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