Strategy to boost Chinese investment in 7 key sectors unveiled

ISLAMABAD: Pakistan has introduced a new strategy to facilitate joint ventures between Chinese and Pakistani companies to attract Chinese investment in seven key sectors of its economy.

Chinese companies will be invited to invest in Pakistan, with 78 Chinese business organisations and 167 Pakistani companies set to participate in this initiative. The effort is expected to significantly enhance the investment sector and strengthen economic ties between the two nations.

The targeted sectors for investment are medical and surgical equipment, plastics, clothing, the leather industry, edible meat, fruits and vegetables, and the waste and fodder sectors.

This was announced during a briefing at the joint meeting of the Board of Investment (BoI), chaired by federal ministers Abdul Aleem Khan and Jam Kamal Khan.

The Board of Investment is prepared to invite Chinese companies to partner with Pakistani counterparts, having completed the groundwork and presented a comparative sector review during the briefing.

Abdul Aleem Khan noted that there is potential to increase Pakistan’s trade volume by $1 billion through cooperation with Chinese companies.

Officials believe this strategy will strengthen economic ties between the two countries and enhance Pakistan’s industrial capabilities. The initiative is part of a broader effort to boost economic collaboration under the China-Pakistan Economic Corridor (CPEC) framework. The strategy outlines specific opportunities and incentives for Chinese firms to invest and establish joint ventures with Pakistani companies, fostering technology transfer and job creation.

Aleem Khan directed the BoI to finalise details with the companies involved in joint ventures and recommended involving the Pakistani Embassy in Beijing to facilitate Chinese companies. He emphasised the importance of collaboration with the ministries of Foreign Affairs, Trade, Industry and Production, Food Security, and Maritime to ensure coordinated investment efforts.

Khan also highlighted the need to establish new industries in industrial-free zones or areas with adequate electrical supply. He instructed authorities to submit a detailed Pakistan-China trade roadmap to the Prime Minister for further guidance.

Commerce Minister Jam Kamal Khan underscored the Ministry of Commerce’s role in supporting the Board of Investment. The federal secretary for the BoI identified the seven major sectors targeted for investment: medical and surgical equipment, plastics, clothing, the leather industry, edible meat, fruits and vegetables, and waste and fodder. The Board of Investment is fully prepared to invite Chinese companies and match them with Pakistani counterparts, with preliminary groundwork already completed. The secretary also presented a comparative review of various sectors during the briefing.