Prime Minister Shehbaz Sharif has officially approved a joint venture initiative between Chinese and Pakistani companies aimed at relocating Chinese industries to Pakistan. The decision was made during a meeting in Islamabad to address issues faced by the Board of Investment (BOI).
The Prime Minister reiterated the government’s commitment to boosting both domestic and foreign investments. He requested a comprehensive progress report on the Memorandum of Understanding (MoU) signed between Pakistani and Chinese firms during his recent visit to Shenzhen.
Emphasizing the potential for economic growth, Prime Minister Sharif directed authorities to revise the draft law for Special Economic Zones. The meeting featured a briefing from the Secretary BOI, who outlined ongoing efforts to facilitate the relocation of Chinese industries and plans to engage Chinese experts in establishing the Islamabad Business Facilitation Center.
Additionally, the participants were informed that the draft of the Ease of Doing Business Act will soon be submitted to the Cabinet Committee on Legislative Affairs.
This initiative marks a significant step towards strengthening economic ties between Pakistan and China, with the relocation of Chinese industries expected to drive economic growth and development in Pakistan.