Tuesday, July 23, 2024

PM Shehbaz Greenlights Joint Ventures for Relocating Chinese Industry to Pakistan

Prime Minister Shehbaz Sharif has given the green light for the relocation of Chinese industries to Pakistan, aiming to boost joint ventures between the two countries. During a meeting focused on the Board of Investment, he highlighted the government’s strong commitment to encouraging both local and foreign investments.

Shehbaz Sharif stressed the importance of reviewing the Memoranda of Understanding (MoUs) signed during his recent visit to China. He emphasized the need to create a draft law for the Special Economic Zones One Stop Shop, which will streamline processes for businesses operating in these zones.

The Prime Minister pointed out the significant potential in relocating China’s textile, leather, and footwear industries to Pakistan. He believes that this move will not only enhance the industrial sector in Pakistan but also create numerous job opportunities and strengthen the economy.

To facilitate this, he announced the establishment of a Business Facilitation Centre in Islamabad. This centre will serve as a hub for assisting businesses, providing them with the necessary support and resources to operate smoothly in Pakistan.

Additionally, Shehbaz Sharif revealed plans for drafting an ‘Easy Business Act’. This act will be designed to simplify business operations and regulations, making it easier for companies to start and run their businesses in Pakistan.

The proposed legislation will be reviewed by the relevant authorities to ensure it effectively meets the needs of the business community.

Related Articles

Latest Articles