BoI holds ‘CPEC Industrial Cooperation Textile Business to Business webinar’

ISLAMABAD: In a bid to promote business alliances and sectoral matchmaking between private enterprises of the textile sector of Pakistan and China, the Prime Minister’s Office, Board of Investment, Pakistan, organised a “CPEC Industrial Cooperation Textile Business to Business (B2B) Webinar” in collaboration with China Council for International Investment Promotion (CCIIP) and China National Textile and Apparel Council (CNTAC) on Tuesday.

The webinar offered a platform for analysis of industry trends, bilateral investment opportunities and potential collaborations between companies of the two countries.

Secretary BoI Fareena Mazhar, Executive Director General BoI Khashihur Rehman, Project Director CPEC Industrial Cooperation of BOI Asim Ayub, Deputy President CNTAC Xu Yingxin, Author of Textile Industrial Diagnosis Report, Dr Du Zhen Li, Deputy Director General of Asian Department of the Ministry of Commerce of China, Wei Yan, Deputy GM, ICBC (Karachi Branch), Zhang Hongpeng, Director, China Road and Bridge Corporation (CRBC), Wang Lu, Chairman, FIEDMC, Mian Kashif Ashfaq, Director General (Textile Wing), Textile Industry Division, Pakistan, Kanwar Usman, Secretary General, All Pakistan Textile Mills Association (APTMA), Shahid Sattar participated in the webinar.

The opening remarks were delivered by the Executive Director General BoI, Khashihur Rehman.

He stated that the webinar marks actualisation of the MOU signed in 2008 between the BoI and the CCIIP and it will be integral in advancing B2B and P2P ties under CPEC Industrial Cooperation.

In this context, he informed the participants that to facilitate business to business (B2B) matchmaking, BoI is also working on the development of an Online B2B portal which will assist potential domestic and foreign investors and serve as a one-stop database of available public and private sector investment projects.

Secretary BoI Mazhar stated that the webinar aims to rejuvenate the process of enhanced B2B matchmaking between Pakistani and Chinese enterprises.

She appreciated the overwhelming support of China National Textile and Apparel Council (CNTAC) and the Ministry of Commerce of the People’s Republic of China.

Owing to the sector’s financial gains many international companies including Chinese enterprises are already operational in the country.

She shared that “Challenge Apparel” a Chinese company has been successfully operating in Pakistan for years and now plans to expand with an additional investment of over $150 million.

She apprised the audience about Pakistan’s advantageous investment policies pertaining to the SEZs, EV, mobile device manufacturing policy and emphasised on Pakistan’s commitment to facilitate B2B matchmaking.

Mazhar underscored that the CPEC Industrial Cooperation follows an all-inclusive policy and is open for third-party participation.

The inclusion of trade and investment officers in the webinar was to apprise them about investment opportunities under CPEC, so the same could be communicated to investors in their respective countries. She concluded by welcoming export-oriented hi tech Chinese enterprises to invest in Pakistan.

Project Director PMU and Moderator for the event, Asim Ayub stated that the webinar mark’s the initiation of an unprecedented partnership involving the BOI, CIECC, CNTAC, CCIIP and the Ministry of Commerce, China. He informed the audience that the Textile Diagnostic Study conducted by CIECC on Pakistan’s Textile Sector in 2019 was very well received by the Pakistani side, however, there exists a need for a follow up action plan to reap more pragmatic and mutually beneficial outcome.

Copyright Business Recorder, 2021