PM Shehbaz informed MoU worth $70m signed with Chinese firms

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif on Friday was apprised that over 200 business-to-business (B2B) agreements along with a memorandum of understanding worth $70 million have been signed with several Chinese companies.

The prime minister (PM) chaired a review meeting regarding the progress of ongoing projects and various initiatives under the Board of Investment (BOI), a PM office news release said.

PM Shehbaz Sharif said an effective and comprehensive roadmap should be formulated for the completion of B2B agreements and the implementation of signed memorandums of understanding with international investors.

“Work on regulatory reforms should be accelerated to provide a conducive environment for business in the country. Such targets should be set for investment that can be achieved as soon as possible,” the PM said.

Effective marketing of investment opportunities in Pakistan is essential to attract foreign investors, the prime minister said.

The prime minister directed to complete the construction of business facilitation centers in the country as soon as possible. He underscored that the construction of business facilitation centers, organization of road shows and other such initiatives were critical to attract foreign investment to the country.

He was also briefed that some 35 Special Economic Zones (SEZs) in the country have been surveyed through Geographical Information System (GIS), whereas extensive data was available on the SEZs to accelerate the progress of ongoing projects.

During the meeting, the BOI officials informed that an 18-point plan was formulated to make special economic zones more effective. Moreover, suggestions regarding the Ease of Doing Business Act 2024 were also presented during the meeting.

Under the Ease of Doing Business Act 2024, the Board of Investment would be able to create a regulatory framework for business in the country in accordance with the modern requirements, he added.

Federal Minister for Privatization Abdul Aleem Khan and senior officers of relevant institutions were present in the meeting.