Back

China Keen to Set up Industrial Park in Pakistan

07/03/2017

China Keen to Set up Industrial Park in Pakistan

Since the Chinese government decided to revive the old Silk Route under the new concept of "One Belt – One Road" to connect 26 countries, Pakistan has suddenly become an important part of this chain and is set to become super power. The China Pakistan Economic Corridor (CPEC) is the most vital component of this "One Belt – One Road" initiative. CPEC is a mix of projects including roads, railway tracks, optic fibre cable project, a dry port and energy producing units.

Key Chinese investors understand the importance of CPEC project and are keen to set up industrial park, power generation plants. They have also decided to conduct several joint ventures in many sectors in Pakistan as they consider this country as a potential market for business and investment.

Chairman Deng Jihai of International Green Economy Association of China observed this, while addressing a delegation, which was representing various sectors including power generation, biomass energy, industrial park development, agriculture, food processing, logistics, consultation services, textiles and garments, ship building, real estate, biotechnology, medical science and others.

Jihai' s association has already brought three delegations to Pakistan just to study Pakistan market and explore opportunities for investment and joint ventures in China Pakistan Economic Corridor (CPEC) projects. CPEC summit is expected to be held in May 2017 and the delegation would present report of their visit to Pakistan to the said summit.

The delegation members were interested in putting up industrial units of their relevant sectors in Pakistan like small and big power plants, ship construction, and food processing units. ICCI members also insisted that Pakistan must also send its delegation to China as this country holds numerous investment opportunities for Pakistani investors.

Private sector of Pakistan was already keen to enter into joint ventures with Chinese entrepreneurs in different economic sections and CPEC has put both countries in a long-term partnership. Bilateral trade between Pakistan and China was growing steadily but balance of trade was heavily in favour of China. China was making imports of billions of dollars every year to meet needs of its domestic industry and emphasised that it should focus on enhancing imports from Pakistan to reduce the current bilateral trade imbalance with Pakistan.

ICCI assured to provide all possible cooperation to Chinese investors, who are interested in investing in Pakistan.