Saturday, April 20, 2024

Pakistan to Become a Regional Manufacturing Hub under CPEC Industrial Cooperation

Industrial cooperation between Pakistan and China is intended to make Pakistan a regional manufacturing centre, while the construction of industrial zones would provide significant investment opportunities for local industrialists and absorb a large amount of labour.

The shifting of industries from China to Pakistan would result in export promotion, import substitution, transfer of technologies and employment generation, which are the primary targets of our government as well.

Asim Saleem Bajwa, Chairman of the China Pakistan Economic Corridor (CPEC), stated that agriculture and infrastructure were encouraged in the second phase of the CPEC industry, which had a good impact on poverty and GDP growth.

He said that, as a result of government policies, all investment facilities were supplied, and that the concept of “one area, one route” will change a century’s scenario in which CPEC is the key project.

Meanwhile, Atif. R. Bukhari, Chairman of the Board of Investment, stated that the private sector and industrialists will play a critical role in the second phase of CPEC, with the government’s duty being to support them by creating favourable conditions.

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