Chairman BoI Appreciates China’s Decision of Transferring Industrial Units to Pakistan

ISLAMABAD, (APP – UrduPoint / Pakistan Point News – 22nd Sep, 2019 ):Chairman, Board of Investment (BOI), Zubair Sunday welcomed the decision of Relocating Chinese manufacturing industry into Pakistan, saying it would bring about revolution in manufacturing sector and boost exports.

“The relocation of Chinese manufacturing units into our Special Economic Zones (SEZs) will not only enhance the industrial growth but will also Help increase Gross Domestic Product (GDP), which effects the local employment rate as well,” Chairman BOI told APP in an exclusive interview here.

He said that a number of the Chinese companies had expressed willingness to shift and relocate their industrial units to Pakistan in second phase of industrialization under China Pakistan Economic Corridor (CPEC).

He informed that during the first wave of relocation, the Chinese Industrial units were mostly shifted in South East Asian Countries, in 2006 including Vietnam and Malaysia, now these countries were leading in whole region in their exports and economic growth.

Replying to a question, he said that Chinese manufacturing units of textile, leather, engineering and electronics good would also be relocated in major industrial cities of the Pakistan including Faisalabad and Karachi.

He said that after the second phase of relocation of Chinese industrial units, the local industrialist can go for Joint Ventures (JVs) with them to shares their expertise in manufacturing to growth of the local industries.

He said that this wave of the relocation would turn around the local industrial units also and help create huge job opportunities for local youth.

Replying to question, he said the government was also focusing on textile garments for further value addition to provide comparativeness of textile items in International market.

Chairman BOI said that Knowledge based business and economy would be priority of the government to compete with developed economies.

He informed that through knowledge based business and exports “we can promote Pakistan’s hi tech and innovative exports items in competitive international market.

Replying to another question, he said the government had plan to develop tourism zones for bringing foreign investment in local tourist resorts in different potential areas including Northern areas, Galiyat, Gilgit Baltistan and all four provinces.

He informed that “we want do not only promote the conventional tourism but we also aim at working to promote Religio-faith tourism, medical tourism and adventure tourism through foreign investment in these sector for growth in local economy.

Replying to question regarding the World Bank ,”Ease of Doing Business” he informed that the government was working on the all indicators of EODB for improving the business environment of local and foreign investors.

Chairman BOI expected that Pakistan’s WB ranking in EODB would improve more and go down 22 points from 136 to 114 out of 180 countries because of special initiative taken by the government to provide conducive environment for local Small and Medium Enterprises (SMEs).

He said the Prime Minister, Imran Khan had already taken step to establish “Better Business Regulatory Initiatives” to improve the regulation and regulatory