INP-WealthPk

Investment by Chinese Companies Increases Enormously in Pakistan

May 11, 2022

By Hifsa Raja ISLAMABAD, May 11 (INP-WealthPK): Investment by Chinese companies in Pakistan is on the rise since the advent of the China Pakistan Economic Corridor (CPEC) and it particularly increased during the last three to four years after the establishment of the Special Technology Zones Authority (STZA). Asim Ayub, Project Director of the Board of Investment (BOI), told WealthPK that the Board is facilitating Chinese investors and companies investing in CPEC. He said the BOI facilitates business-to-business transactions and government-to-government interaction. Asim said Chinese investors have been investing in energy, roads and infrastructure since the advent of CPEC. The sectors attracting the highest investment from China are technology, textile and agriculture. Chinese investors are very keen to invest in mines too.  The BOI also facilitates business visas connecting Chinese companies to the right partners and signing of memorandums of understanding (MoUs). The BOI has signed MoUs with China Council for International Investment Promotion (CCIIP) on cooperation in investment; the China Council for Promotion of International Trade, Guangdong Sub-Council (China Chamber of Commerce); and the Investment Promotion Agency, Ministry of Commerce of China. Another MoU was signed between the Ministry of Privatization of Pakistan and the Chinese Ministry of Commerce. Pak-China Business Investment Forum has been set up with the help of the BOI and All Pakistan Chinese Enterprises. The forum includes 18 Chinese and 19 Pakistani businesses. It's a platform to get more Chinese businesses to invest in Pakistan and to work with each other on industrial projects. The collaboration aims to encourage long-term investment and exports, as well as the use of modern technology in Pakistan. About 64% of the 207 million people of Pakistan are under the age of 29 and almost 30% are between the age of 15 and 29. Pakistan is the fifth-best place in the world to do business for offshore services. Asim said the Pak-China Business Investment Forum has been formed with the collaboration of the BOI and All Pakistan Chinese Enterprises. Chinese enterprises are keen to invest in the technology industry, which could be a big help to the economy. Chinese tech enterprises are now landing and investing in Pakistan.