Joint venture strategy evolved: Chinese companies invited to invest in 7 key sectors

ISLAMABAD: A strategy has been developed for joint ventures between various companies and business organizations from China and Pakistan. According to the details, Chinese companies are invited here to invest in seven major and important sectors of Pakistan.

Moreover, 78 business organizations from China and 167 from Pakistan will participate in this mammoth session, which is expected to bring major strides in the investment sector.

This was expressed in the briefing of the joint meeting of the Board of Investment chaired by Federal Ministers Abdul Aleem Khan and Jam Kamal Khan. Federal Minister for Board of Investment, Privatization and Communications Abdul Aleem Khan said that it is possible to increase Pakistan’s trade volume by one billion dollars with the cooperation of Chinese companies. He said that there is no doubt that the ground reality and current conditions as compared to Bangladesh, India, Vietnam and other countries in the region, Pakistan is a more attractive and important country for China in terms of investment.

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Aleem Khan directed the senior officials of the Board of Investment to immediately finalise the details with companies that will have to go into ‘Joint Ventures’ for mutual investments. He added that for this purpose, the Pakistani Embassy in Beijing should also be brought on board so that companies in China can be facilitated as much as possible. Aleem Khan said that the Ministries of Foreign Affairs, Commerce, Industry and Production, Food Safety and Maritime should also be involved in the matter to ensure maximum coordinated efforts for investments. Aleem Khan said that new industries should be established in industrial free zones or in the areas where maximum electricity supply is possible. Aleem Khan also asked the relevant authorities to submit the details for the Pakistan-China trade road map to the Prime Minister and seek directions for further progress in this regard.

Federal Minister for Commerce Jam Kamal Khan also indicated during the briefing that the Ministry of Commerce has been directed to fully coordinate and work with the Board of Investment.

The Federal Undersecretary for the Board of Investments during a briefing said that Pakistan’s seven key sectors include medical and surgical equipment, plastics, garments, leather industry, edible meat, fruits and vegetables, and waste and feed sectors.

He said that the Board of Investment is fully prepared to invite Chinese companies and associate them with Pakistani counterparts, while the initial homework has also been completed. He also presented a comparative overview of various sectors during the briefing.

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