Second phase of CPEC focuses on business collaborations: Khalid Mansoor

ISLAMABAD: Special Assistant to the Prime Minister on CPEC Affairs Khalid Mansoor said that business-to-business collaboration would be a hallmark of the second phase of the China-Pakistan Economic Corridor (CPEC).

He was briefing a meeting of representatives of over 70 Chinese companies here on Monday.

Minister for Planning, Development and Special Initiatives Asad Umar, Chairman Board of Investment (BOI), and Ambassador of China to Pakistan attended the meeting, which was participated by chief executive officers (CEOs) and representatives of over 70 Chinese companies. A number of companies joined through video links as well.

Khalid Mansoor briefed the participants on the latest developments with regard to CPEC and stated that Phase-II is aimed at enhancing bilateral cooperation in industrial, technological and agricultural sectors.

He highlighted that four out of a total of nine agreed upon Special Economic Zones (SEZs) along with Gwadar Free Zone under the auspices of the CPEC are at an advanced stage of development and investors have started to populate these SEZs.

Pakistan offers regionally-competitive incentives in SEZs including 10 years’ income tax exemption and exemption of customs duty on import of capital goods.

He further stated that the CPEC Authority is setting up a facilitation centre for CPEC investors.

Asad Umar, however, encouraged Chinese investors to explore more investment opportunities in industrial, agricultural, and information technology areas. He said that due to the special relationship between Pakistan and China, the government and the people of Pakistan would wish to see much greater investment from China.

He solicited the support of Chinese companies working in Pakistan in order to attract more foreign direct investment from China in the country.

The ambassador of China expressed his appreciation for the event, which brought together all the Chinese companies.

He said that Chinese enterprises will work closely with the CPEC Authority to increase their business and investment activities in Pakistan.

The CEOs of various companies also spoke on the occasion and presented their ideas and suggestions for consideration by the government.

Copyright Business Recorder, 2021