Chinese businessmen to invest $1bn in Pakistan

A 50-member Chinese investment delegation visited Pakistan in early July and expressed desire to invest around $1 billion in initial phase in various sectors including automotives, textiles, agriculture related industries and IT and telecom industries. As the projects reach completion this investment can increase to $5 billion. The delegation was briefed about different possibilities of investments and joint ventures in the newly created Special Economic Zones (SEZs).

PM Imran Khan met with the delegation and appreciated their interest to invest in Pakistan. Chinese Ambassador to Pakistan Yao Jing was also present in the meeting along with Advisor to PM on Finance Dr Abdul Hafeez Sheikh, Chairman Board of Investment (BoI) Syed Zubair Haider Gilani and Chairman Federal Board of Revenue (FBR) Syed Shabbar Zaidi

The Chinese delegation consisted of the CEOs / general managers of businesses from the city of Chongqing, China, which is leading China in automotive and several other hi-tech industries.

Head of the Chinese delegation Pan Guangfeng said that the investors could raise $300 million to $500 million for SEZ infrastructure development and an umbrella investment of $1 billion to $5 billion in several sectors. He hoped that the Chinese investment in Pakistan would help create 500,000 direct jobs for local youth, besides the transfer of technology and raising industries technology standards in Pakistan.

The visit of the Chinese delegation, according to Prime Minister Office, is a

Follow-up of the Prime Minister’s visit to China and inking of agreements to

enhance bilateral cooperation in different areas.

Chinese Ambassador Yao Jing remarked that Chinese investors would

extend all possible support towards realising the vision of a strong, stable

and prosperous Pakistan.