KARACHI: For making China-Pakistan Economic Corridor (CPEC) a success story, Pakistani businessmen at a conference here on Wednesday called for focus on inclusive investment where local people be duly benefitted and local investors' active participation in CPEC related be ensured.
Sindh Board of Investment (SBI) in collaboration with Chinese forum Research and Development International (RDI) organised one-day conference on China-Pakistan Enterprises Cooperation Business Development and Networking.
Besides local investors representing various economic sectors, it was participated by a large delegation of Chinese investors from different sectors.
Chairperson of the Advisory Committee of Research and Development International (RDI) Forum of Chinese Academy of Social Sciences, Dr. Baige Zhao led the delegation. Chinese Consul General in Karachi accompanied them.
Chinese investors represented fifteen business sectors including real estate, technology, engineering and Chinese medicine amongst others.
Dr. Baige Zhao noted that Pakistan has a large population looking for opportunities and was going through fast urbanization. Thus, she continued, there was a big potential for foreign investment in various sectors especially in housing industry to meet huge demand of residential units. China could benefit from this opportunity, she said. Chinese Counsel General in Karachi said CPEC was a part of China's "One Belt One Road" global initiative and it had provided a golden opportunity for Pakistan to take off as a regional economic power.
Chief of Habib Group of Companies, Arif Habib said Pakistan had been unable to grow as fast as its neighbors in South Asia, on account of poor infrastructure which was straining under demands of a large population growing at higher than world's average.
Chinese lending via CPEC for infrastructure and energy projects would bridge infrastructure development gaps in Pakistan, he said.
Chairperson of Sindh Board of Investment Ms. Naheed Memon spoke of special economic zones in Sindh linked to CPEC and claimed that Sindh was the first province taking lead by coming up with SEZs under CPEC umbrella.
She said the industrial phase of CPEC in Pakistan was beginning and Sindh Government was actively working on the development of industrial parks and Special Economic Zones in the province.
She noted that Chinese RDI had worked extensively on the development of the 'One Belt and One Road' initiative and Sindh government was supporting its efforts in bringing Chinese businesses to engage with Pakistani businesses to set up industries in the province.
She said the objective of this event was to provide a platform to Chinese and Pakistani businesses to discuss and explore potential partnership and investment opportunities in Sindh.
Chairman, Senate Standing Committee on Finance and Investment Senator Saleem Mandviwala recounted his efforts to bring Chinese investment.
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