PM Shehbaz encourages private investment in CPEC-II projects for economic development

A high level delegation of the Chinese International Development Cooperation Agency (CIDCA), led by its Chairman H.E. Mr. Luo Zhaohui, called on the Prime Minister Muhammad Shehbaz Sharif in Islamabad today.

Welcoming the delegation, the Prime Minister said China is Pakistan’s most trusted friend and appreciated China’s steadfast support to Pakistan. Acknowledging CIDCA’s pivotal role in bolstering Pakistan’s economic development, the Prime Minister specifically commended CIDCA for its vital support during the 2022 floods and for its relief, rehabilitation, and reconstruction efforts in Pakistan.

The Prime Minister underscored that CPEC has contributed to Pakistan’s socio economic development as well as the progress and prosperity of the peoples of two countries. He hoped that the Phase-II of CPEC would result in more industrial, scientific and green development. CPEC-II is also an opportunity for the private sectors of both countries to form joint ventures, he added.

Chinese Ambassador in Pakistan H.E. Mr. Jiang Zaidong also attended the meeting. Federal Ministers for Foreign Affairs, Economic Affairs, Finance, Interior, Planning & Development, SAPM Tariq Fatemi and senior officials of Pakistan attended the meeting.

The Prime Minister witnessed signing ceremony of four Memorandums of Understanding focusing on Flood Rehabilitation, Information and Communication Technologies, Juncao Technology, China-Pakistan Development Cooperation Planning (2024-2028) alongside a Letter of Exchange on the establishment of a First Aid Centre in Balochistan, and Protocol on Cooperation in Human Resources Development under the Global Development Initiative. These agreements signify the deepening cooperation between Pakistan and China across various sectors.