ISLAMABAD – Pakistani officials have spared Chinese investors from takinglong approvals before launching any project in special economic zones underChina-Pakistan Economic Corridor (CPEC).
Reports in local media said Islamabad makes the move as both countriesagreed to move forward with the second phase of the multibillion-dollarproject. It comes days after Prime Minister’s visit to Beijing,
Khan, during his four-day visit, held meetings with state-owned companiesin Beijing and exchange words on investment opportunities. He held around20 meetings with representatives of nearly 500 Chinese firms to help bringinvestment to the country.
PM’s special advisor on CPEC Khalid Mansoor said Chinese companies havebeen facilitated with compliance regime and they are not required to obtainno-objection certificates from 37 different departments before launchingany investment project in the SEZs.
CPEC Authority provides a one-window facility to Chinese investors. Iftheir issues still remain unresolved, then the PM House is there to addressthe issues, he said.
During the back-to-back meetings, Khan highlighted investment opportunitiesin textile, pharmaceutical, footwear, information technology, cottageindustry, and agriculture sectors in Pakistan.
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Mansoor also mentioned that during the Phase-I of CPEC, out of $53 billion,investments of $25 billion were materialized whereas [those of] $28 billionwere under consideration.
Meanwhile, Chinese companies would help set up a steel and metal recyclingplant in Gwadar within three years under Phase-2, which would producemetals worth $4.5 billion for exports besides creating 40,000 jobs.
Pakistan has received commitments from China for getting investments forvarious sectors for establishing industrial units in the Special EconomicZones.
