Local and foreign investment in industrial zones encouraged

The new Chinese Ambassador to Pakistan, Nong Rong, called on the Chairman Board of Investment (BoI), Atif R Bokhari and discussed matters relating to industrial cooperation under the CPEC.

Both sides discussed the mechanism of increasing investments in the industrial zones of Pakistan. During the meeting it was agreed that local and foreign investors other than Chinese will be encouraged to invest in the industrial zones of Pakistan. Secretary BoI Fareena Mazhar and Project Director CPEC Asim Ayub were also present on the occasion.

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.

Both sides stressed that there is a common misperception that investments in CPEC are just for Chinese investors although investors from all over the world are being encouraged to participate in investing in the 2nd phase of CPEC