Chinese investments growing in Paksitan
ISLAMABAD, Jul. 3 (Gwadar Pro) - Pakistani government will announce more facilities for the Chinese investors in the coming days to further cement the longstanding friendship, Federal Minister for Board of Investment (BOI) Chaudhry Salik Hussain told Gwadar Pro.
“We (the government) have a policy of facilitating investors and for China we have a special regard. In days to come, we will announce more facilities for the Chinese investors who are generously investing in Pakistan,” he remarked while speaking to Gwadar Pro on Saturday night.
The minister maintained that his recent meetings with Chinese investors were very positive and he was optimistic about the massive investments coming from the Iron Brother.
The minister noted that Chinese investments had increased ever since the new government took over in April.
Recently, Optima Integration Group of China joined hands with Asia-Pak Investments of Pakistan to invest $50 million in the first phase to develop agriculture, power and logistics sectors in Gwadar and Karachi.
This comes as China has decided to invest in Pakistan in sectors of Electric Vehicles (EVs) manufacturing and agriculture to enhance economic activities in the local market. The investment in both sectors will create growth and jobs.
In a recent agreement, BOI has facilitated the signing of a Memorandum of Understanding (MoU) between two companies in this regard, which would create more than 100 jobs in Gwadar and Karachi. Under the MoU, the two groups would set up an end-to-end supply chain for seafood, as 79 species of fish have been approved by the General Administration of Customs of the People’s Republic of China for export from Pakistan to China.
Also, China-based Gauss Auto Group has planned to establish an EV plant in Karachi SEZs. The group has planned to enter into a Joint Venture (JV) with AKD Group Holdings and set up the plant near Port Qasim, Karachi on around 1000 acres of land.
Gauss Auto is an enterprise focusing on the innovation and development of automobiles and the integration of resources. The BOI leadership encouraged Gauss Auto Group to invest in the auto sector of Pakistan and extended maximum support and facilitation to the company.
Federal Minister Chaudhry Salik Hussain expressed the confidence that more Chinese investments will create jobs and business opportunities for the Pakistanis.