Pakistan and China will invite local and foreign investments into the industrial zones developed in the second phase of the China-Pakistan Economic Corridor (CPEC).
Both countries agreed to invite non-Chinese investors, dispelling the notion that the CPEC Special Economic Zones (SEZs) in Pakistan were limited to Chinese companies only.
In this respect, the newly-appointed Chinese Ambassador to Pakistan Nong Rong called on the Board of Investment (BoI) Chairman, Atif R Bokhari. BoI Secretary, Fareena Mazhar, and CPEC Project Director, Asim Ayub, were also present, Business Recorder reported on Tuesday.
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BoI Chairman apprised the Chinese ambassador of the Draft Framework Agreement on Industrial Cooperation (IC) under the CPEC. He said that both the governments are working together to make the second phase of the CPEC fruitful by attracting quality Foreign Direct Investment (FDI). In return, Ambassador Rong agreed to push the draft framework forward to the relevant departments in China.
During the meeting, both parties also agreed that after successful government-to-government (G2G) cooperation, now Pakistan and China are required to push towards effective business-to-business (B2B) collaboration. BoI Chairman also highlighted that there is immense potential for people-to-people (P2P) linkages between the two countries.
