Prime Minister Muhammad Shahbaz Sharif chaired a crucial meeting at the Board of Investment, where a joint venture between Chinese and Pakistani companies was approved to facilitate the transfer of Chinese industries to Pakistan. Highlighting the government's commitment to bolster internal and external investments, Prime Minister Sharif emphasized creating a conducive business environment. He identified sectors such as textiles, leather, and footwear as having substantial potential for industrial relocation from China to Pakistan. Following his recent visit to China, the Prime Minister instructed a detailed progress report on the Memorandum of Understanding (MoU) between Pakistani and Chinese firms in Shenzhen.

Additionally, he called for updates on the draft legislation for Special Economic Zones One Stop Shop, aimed at enhancing operational efficiencies. According to the Secretary of the Investment Board, efforts are underway to facilitate the relocation of Chinese industries, including the establishment of an Islamabad Business Facilitation Center with the assistance of Chinese experts. The draft legislation is slated for review by the Cabinet Committee on Legislative Affairs. The meeting was attended by Federal Ministers Abdul Aleem Khan, Jam Kamal, Muhammad Aurangzeb, Dr. Mossadegh Malik, Prime Minister's Coordinator Rana Ehsan Afzal, and senior government officials.

Credit: Independent News Pakistan