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Chinese Entrepreneurs Eager to Make More Investment in Pakistan
Brief:The Chinese businessmen are eager to make more investment in countries like Pakistan in the area of infrastruture.
The Chinese businessmen are eager to make more investment in countries like Pakistan in the development of basic infrastructure for a win-win situation.
They were highly encouraged with pace of development in Pakistan and wished to participate in it for their mutual benefits, said panelists attending the annual Boao Forum for Asia, reported China Daily on Sunday.
They called for more investment in infrastructure projects between China and other regional countries. More investment was needed in infrastructure construction which would help bolster local logistics and trade contacts, especially electric power and railway projects, Deputy Head of the National Development and Reform Commission Ning Jizhe said at the panel discussion on production capacity in Boao, Hainan province.
China has signed agreements on capacity collaboration with dozens of countries, including developing countries along the Road and Belt Initiative, and developed countries, according to Ning, who noted that it would be easier to start working with neighbouring countries such as Pakistan and Kazakhstan as they had greater demand in terms of infrastructure compared with developed countries.
The initiative, proposed by China in 2013, is meant to improve transport infrastructure linking Asia and Europe. Ning said the railway project between China and Thailand which would be designed and constructed by Chinese companies marked a further step to enhance cooperation which was not only beneficial to local communities but also to China’s equipment exports. Delegates attending the forum said that such investment was a win-win strategy for everyone involved.
On China’s side, capacity cooperation leads to a particular growth in railway equipment with high quality, according to Zhang Jiehui, Vice Governor of Hebei province.
“There are more than 700 companies in steel and iron industries in Hebei that made investment and built factories overseas, each of which is making a profit,” said Zhang in response to concerns that China exports inferior capacity to other countries to tackle its own overcapacity problems.
“By moving factories abroad, Chinese companies specialised in these fields could better play their roles in countries with higher demand in steel, cement and other manufacturing products,” said Zhang. He said further investment would be made in cooperation with Pakistan and Kazakhstan, and he expected a prospective future for further cooperation.

Pakistan Today

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