Chinese firms have been invited to invest in Pakistan as Chinese expertise in technology and the cheap Pakistani labour could act in a balance to benefit both sides.
On Wednesday, during a visit to the Rashakai Special Economic Zone, Prime Minister Shehbaz Sharif invited Chinese companies to invest in Pakistan, emphasising on sharing of expertise between the two countries. He expressed his remarks and said the government was committed to completing Special Economic Zones at the earliest to ensure development and prosperity in the country.
The premier further said that focusing on establishing SEZs all over the country would boost industrialization, and exports and will generate employment. “The solution to Pakistan’s economic problems was massive industrialization and diversifying the export base,” he added.
He then emphasized on sharing of expertise between the two countries. The premier also directed the authorities concerned to follow the timelines of the projects related to SEZs.
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Shehbaz Sharif said that with the cooperation of Chinese firms in Special Economic Zones, “we hope to attract Chinese machinery in these zones and other areas where Chinese technology along with Chinese and Pakistani investment can make a wonderful win- win situation.”
He said, “China has moved to a different level of high-tech industrial projects and is moving away from labour intensive projects. Labour is very expensive in China now and we are in a country where we have comparatively cheaper skilled and semi-skilled labor.”
He said, “This is the first special economic zone I visited; it’s my personal interest and commitment towards the promotion of economic zones in Pakistan, particularly in the smaller provinces of Pakistan for example Baluchistan and KP.”
“That’s why I am here to show this commitment to the entire country that regardless of whatever factors and situation. We are all committed to working jointly to promote industrial investment, jobs, production and revenue to make Pakistan a progressive and a prosperous country in the times to come.” he said.
