Prime Minister Shehbaz Sharif on Wednesday approved a joint venture initiative between Chinese and Pakistani companies aimed at relocating Chinese industries to Pakistan. The decision came during a meeting in Islamabad to address challenges faced by the Board of Investment (BOI). The Prime Minister underscored the government’s dedication to boosting both local and foreign investments.
Shehbaz called for a detailed progress report on the Memorandum of Understanding (MoU) signed between Pakistani and Chinese firms during his recent trip to Shenzhen. He highlighted the economic growth opportunities and instructed officials to revise the draft legislation for Special Economic Zones.
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The session included a briefing by the BOI Secretary, outlining efforts to facilitate the relocation of Chinese industries and plans to involve Chinese experts in establishing the Islamabad Business Facilitation Center.
Furthermore, it was mentioned that the draft Ease of Doing Business Act would soon be presented to the Cabinet Committee on Legislative Affairs.
