Pakistani PM approves joint ventures for relocation of Chinese industries to Pakistan

ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif has approved joint venture projects between Chinese and Pakistani companies regarding the transfer of Chinese industries to Pakistan, the Prime Minister's office said in a statement here.

Presiding over an important meeting on the Board of Investment affairs, Sharif said that promoting domestic and foreign investment remains the government's top priority, the statement added.

"The government is taking all possible measures to provide a business-friendly environment for traders and investors," he said.

Sharif also instructed a review of the draft legislation for the one-stop-shop in the special economic zones (SEZs), to facilitate Chinese and other investors interested in setting up joint venture projects in the SEZs.

There is significant potential for the relocation of Chinese industries such as textiles, leather, footwear, and others to Pakistan, said the prime minister, highlighting the importance of this initiative.

During the meeting, the secretary of the Board of Investment provided a detailed briefing on the steps being taken regarding the relocation of Chinese industries to Pakistan.  

By Xinhua/RSS