Staff Report
ISLAMABAD: China continues to be the top foreign investor in Pakistan for six consecutive years, therefore the economic experts on both sides believe that Chinese investment is taking Pakistan’s economy to new heights.
Recently the government of China and three major Chinese companies are keen to invest USD 3 billion in Ravi urban and bundle island development projects. The investment does not include any kind of loan.
The offer has already been made to the government of Pakistan and is now waiting for its final approval. For this purpose, the consideration is underway and several meetings were arranged on these wealth creation projects by Prime Minister Imran Khan himself. Chinese investment in Pakistan is opening more avenues of trade and investment in the country. ANGCC, a global investment consortium consisting of 200 companies, had also offered to invest USD 5 billion in the project on a partnership basis.
Recently 25 Chinese companies also signed accords to invest in Allama Iqbal Industrial City Faisalabad, and other foreign companies are in contact with the Faisalabad Industrial Estate Development and Management Company (FIEDMC) for investment in the city.
Since the launch of China Pakistan Economic Corridor(CPEC), China’s investment in Pakistan has surged by a hefty 50 percent. China’s investment in Pakistan is not limited to CPEC.
Plenty of investment projects, namely infrastructure, sanitation, manufacturing, etc. are those that go far beyond CPEC. And these together with CPEC projects are an important composite of bilateral economic cooperation. According to the statistics and statement from China’s Consul General in Karachi Li Bijian, the accumulated amount of investment in Pakistan till October this year reached USD 10.27 billion. Since Pakistan is a developing country, foreign direct investment is necessary for the economic growth of Pakistan. Therefore, Pakistan made serious efforts to attract impressive foreign direct investment in the country.
Economic confidence is on the top priority of the government for many years to create a good image in the mind of investors to invest in Pakistan.
