Sino-Pak economic relations enter in new phase due to Chinese Presidents's visit: BOI Chairman

ISLAMABAD: Chairman, Board of Investment (BOI) Dr. Miftah Ismail Wednesday said after visit of Chinese President, bilateral economic relations have entered in new geo-economic phase which would also attract other countries to invest in Pakistan.

"The two countries have signed 51 agreements and Memorandums of Understanding, which would help boost economic activities in the country," he said while talking to APP.

He said that signing of US $45 billion investment was a big achievement of the present government under the dynamic leadership of Prime Minister Muhammad Nawaz Sharif.

"We highly appreciate the visit of the Chinese President to Pakistan and signing on MoUs worth over US $45 billion investment in Pakistan, specially in the infrastructure and energy sector", he added.

Miftah said Pakistan was committed to providing an investment friendly regime to investors by offering lucrative fiscal incentives and conducive business environment.

He said the huge investment under China-Pakistan Economic Corridor (CPEC) in energy sector would usher in an era of socio-economic prosperity of the country and help promote industrialization of the country, besides boosting exports.

The Chairman BOI said after the start of work on CPEC, the economic activity would definitely increase, not only in Pakistan but also in the whole region.

He said this would also attract the businessmen from other countries to invest in Pakistan.

He said China was working on several projects of alternative energy like solar and wind power, to resolve energy problem in the country.

Dr Miftah said: "The Chinese investment in energy and road infrastructures would help enhance the industrial growth and provide regional connectivity besides increasing the trade volume up to US $ 20 billion between the two friendly countries".

He said that the CPEC would help Pakistan enter in new era of geo-economic prosperity in the region and ensure trade link with regional countries, besides providing trade links at global level.

He said that CPEC would not only play role as game changer but also 'fate changer' for global and regional economies.