Pakistan and China Sign Investment Agreement for Key Projects
ISLAMABAD: The National Bank of Pakistan and China Pakistan International Silk Road Industry Investment Management Company Ltd have signed an MOU to facilitate investment in key projects.
The purpose of this agreement is to:
- Promote industrial cooperation
- Support the establishment of special economic zones
- Boost bilateral trade.
The agreement signing ceremony was held at the Pakistan Embassy.
Economic Minister Aslam Chaudhary, Liu Jiang Hua from China-Pakistan International Silk Road Industry Investment Management Company Limited, representatives from Dan Zhou Government, Hai Nan Province, Zhang Yu Bo, MCC, and Bank of Tianjin attended the signing ceremony.
The Economic Minister briefed the participants on the government incentives offered to attract foreign investment, especially from China. He said, “SEZs are being established across Pakistan where Chinese enterprises could relocate their industry and export products to different countries, taking advantage of preferential agreements signed by Pakistan with various countries.”
Furthermore, he stressed that the government focuses on industrialization in the second phase of the China-Pakistan Economic Corridor and offers opportunities in various sectors. He invited Chinese entrepreneurs to come to Pakistan and take advantage of facilities and incentives to set up their industrial units.
Sheikh Muhammad Shariq said that NBP is amongst the major lenders to the projects under CPEC and handles a large portion of bilateral trade between China and Pakistan. We also maintain the largest portfolio of corporate and investment banking in Pakistan”, he added.
Aslam Chaudhary concluded that the MoU would help Chinese companies invest in different projects and promote industrial cooperation between the two countries.
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