UK-Coats acquires yarn manufacturer Patrick Yarn Mill

By Super User 13 December, 2017 276

Deputy Chairman Planning Commission, Sartaj Aziz has said that government of Pakistan would ensure seamless security for the Chinese and in this regard, a special security division has been raised and same arrangement will be made for investors as well.

“Relations between Pakistan and China have become a model of state to state relations and China has become a reliable partner in our national development efforts,” Sartaj Aziz said while addressing the 60-member Chinese business delegation currently visiting Pakistan.

He said that Pakistan is an ideal destination for Chinese investors due to the goodwill for Chinese and potential of investments in the China Pakistan Economic Corridor, which has changed the economic outlook of Pakistan, adding that this is also being acknowledged globally.

Deputy Chairman Planning commission said that Pakistan’s macroeconomic indicators continue to improve and solidify grounds for a sustained upward growth trajectory because key constraints impeding the economy from achieving high growth such as power supply and security situation have improved. Real GDP growth increased last year to a decade high of 5.3%. Supportive policies like historic low interest rate, high infrastructure spending and better law and order has encouraged a number of firms to pursue expansion plans. He said that the government has announced an incentives package for exporters and this will provide opportunity to private sectors including foreign investors to fully benefit from these conditions by modernizing their business processes, investing in research and development, improving human capital, seeking international certifications, and meeting quality standards.

Sartaj Aziz said that CPEC is most important pillar of One Belt One Road initiative and both the countries have agreed to build roads, railways, and oil and gas pipelines under this project. He said that nine Special Economic Zones will be built under CPEC which will be open for all investors across the world to come and invest in their fields of interest. He further said that Chinese technical standards are widely accepted and if those are adopted in sectors like agriculture and livestock, minerals, textile, sports and surgical goods then these could become important export items for China and rest of the world.

Addressing on the occasion, Chairman Board of Investment (BoI) said that Pakistan has overcome the challenges that hampered economic growth in past. “The best infrastructure, surplus power generation and improved law and order situation have made Pakistan ready for a takeoff”.

He expressed optimism that Pakistan would achieve the set goal of economic growth up to 5.8 percent. He further said that Pakistan is making all out efforts to ensure ease of doing business by enlisting the country in the top 50 nations. “Our job is to serve you, enable you to do business and make you successful,” he emphasized while ensuring full-fledged facilitation to businessmen aimed at transforming Pakistan into an attractive destination of foreign investment.

Additional Secretary Planning Zafar Hassan, Project Coordinator CPEC Hassan Daud and Director BoI Abdul Sami also briefed the participants about CPEC projects and Pakistan’s investment policy and incentives being offered to populate CPEC Special Economic Zone.

The Chinese delegation is comprised of businessmen and investors from different fields including construction industry, light manufacturing, automobile, hotel and tourism, textile, steel and mining sector. The delegation will participate in CPEC Expo on December 12 at Karachi, jointly organized by a media group and CPEC Secretariat, Ministry of Planning, Development and Reforms.

The delegation expressed deep interest in investment in Pakistan. The Chinese businessmen said that their companies are ready to heavily invest in mining, steel, light manufacturing, construction and other sectors and this visit has provided them an option to explore the opportunities.

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