BEIJING: Deputy Prime Minister and Foreign Minister Ishaq Dar emphasized the Pakistani government’s commitment to economic reforms and the provision of attractive incentives for investment during his address on Thursday. He urged Chinese entrepreneurs to capitalize on these favorable policies by establishing labor-intensive industries in Pakistan.
Speaking at the Pakistan-China Business Roundtable Conference organized by the Pakistan Embassy in Beijing, Mr. Dar highlighted the competitive advantage of Pakistan’s labor cost compared to China. He identified agriculture, textile, mining, and information technology as key sectors with significant business potential in Pakistan.
Mr. Dar underscored the government’s efforts in expediting the construction of special economic zones and offering attractive incentives for industrial establishment. He outlined 13 key areas of potential collaboration for Chinese and Pakistani entrepreneurs, either through ownership or joint ventures.
Moreover, Mr. Dar pointed out the preferential market access available to Chinese businesses, including access to major economies like the European Union, the Gulf, and countries with free trade agreements with Pakistan.
He highlighted competitive incentives, particularly in special economic zones, export processing zones, the Gwadar free zone, and special technology zones, and suggested exploring the privatization of certain state-owned enterprises from a business perspective.
Assuring the safety of Chinese citizens and institutions in Pakistan, Mr. Dar pledged to bring the perpetrators of the Dasu terrorist attack to justice swiftly.
During his meeting with Chinese Minister for Finance Lan Foan, Mr. Dar reiterated Pakistan’s reform agenda, focusing on governance, revenue, and ease of doing business to attract foreign direct investment. He emphasized Pakistan’s eagerness to welcome investments from China and outlined priority sectors, including agriculture, IT, mines and minerals, and renewable energy.
Both Mr. Dar and the Chinese minister expressed profound appreciation for the financial and banking cooperation between Pakistan and China, viewing it as a testament to the enduring strategic partnership between the two countries.
