China has signed new investment agreements worth up to $10 billion in Pakistan in the coming years, Federal Minister for Investment Qaiser Ahmed Sheikh said on Thursday.
In an interview, he said $1.5 billion worth of joint venture agreements have been finalised between the governments of Pakistan and China. In addition, China has signed memorandums of understanding (MoUs) worth around $9 billion in Pakistan’s agriculture, automotive, and minerals sectors.
He said a 300-member Pakistani business delegation recently visited China to attract further Chinese investment.
The minister added that the government plans to link the Reko Diq mining project to Karachi via Chagai through a dedicated railway line and a new highway to improve logistics and trade. He said around $7 million will be secured from international financial institutions for developing this economic corridor.
Sheikh also said that following the success of Bunyan-un-Marsoos, international interest in Pakistan’s fighter aircraft has increased, with several countries expected to place orders.
He added that agriculture and mining are expected to receive the largest share of foreign direct investment (FDI) in Pakistan.