ISLAMABAD: Prime Minister’s Office is “closely working on framing an effective strategy for Chinese industrial relocation in Pakistan,” the Board of Investment (BoI) said on Sunday.
“Devising an all-inclusive marketing strategy will not only facilitate existing but also promote new Chinese businesses in Pakistan,” the BOI said at a symposium on Chinese investment in Pakistan.
More than 40 state-owned as well as private sector Chinese companies participated in the symposium either virtually or physically.
“Notable potential and existing Chinese investors participated and appreciated the BOI for the efforts undertaken to organize the event. The seminar aimed at firming up marketing strategy to lure-in Chinese businesses in Pakistan with an all-inclusive approach to engage relevant stakeholders in the public and private sectors alike. It becomes all more relevant for BoI, being the lead agency for industrial cooperation, to firm up policies related to investment promotion and facilitation aiming at improving the doing business environment in Pakistan,” the BoI said in a statement in connection with the symposium.
This exercise is part of the initiative undertaken by Prime Minister Imran Khan to promote Chinese investment in Pakistan, it added.
In this regard, the Chairman BoI Atif Bokhari and Secretary BoI Fareena Mazhar are overseeing the efforts to engage Chinese investors, the statement said.
The Chinese companies expressed “keenness and exuberance as they were overwhelmed by the responsive approach of BOI in registering their experiences in Pakistan. All the business-related issues faced by the Chinese companies were discussed with threadbare details. They candidly shared their input regarding the required policy interventions,” BOI said.
Spokesperson of the Chinese Embassy in Pakistan Liu Rui also came up with certain plausible policy interventions for the consideration of the government agencies in Pakistan.
Speaking at the symposium, Project Director China Pakistan Economic Corridor Industrial Cooperation Asim Ayub said BOI is undertaking initiatives of “high marginal impact to attract meaningful Foreign Direct Investment in Pakistan.”
Copyright Business Recorder, 2021