Reports on the Performance of Chinese Companies in Pakistan Released
Islamabad: The two reports, “Glorious 11-Years – How Chinese Companies Reshaped the Power Sector in Pakistan” and “Business Climate Index of Chinese Companies in Pakistan,” were released by the China Chamber of Commerce in Pakistan (CCCPK) in collaboration with the Institute of Regional Studies (IRS).
Yousaf Raza Gilani, Chairman of the Senate, noted that the reports highlight the strong partnership between Pakistan and China in various sectors, particularly business and energy. He remarked that Chinese companies in Pakistan have greatly enhanced the country’s economic prosperity and contributed significantly to the development of the power sector. He underscored that these reports exemplify the transparency of Chinese operations in Pakistan.
Chairman Senate termed the reports “The Glorious 11 Years – How Chinese Companies Reshaped the Power Sector in Pakistan” and “Business Climate Index of Chinese Companies in Pakistan” , as success stories.
“Pakistan seeks to strengthen regional cooperation by fostering economic ties with our partner nations and China stands at the very top”, the Chairman Senate further remarked, adding that Pakistan’s strategic location, coupled with rich natural resources and sizeable workforce, makes it an attractive destination for foreign investment.
He underlined the need for business to business linkages as such sustainable partnerships can attract foreign direct investment, technology sharing, and knowledge exchange schemes between the two nations. He commended China Chamber of Commerce in Pakistan for organizing this all-important event to launch their two special reports and said that these reports serve as a much-needed source of understanding the contributions, operating status and investment confidence of Chinese companies working in Pakistan.
The reports effectively showcase the commitment of CCCPK to promoting economic growth and business development in Pakistan through 122 Chinese companies working in the country, comprising both state-owned and private enterprises, he stated. He informed that Pakistan offers immense potential for trade, investment, and joint ventures in areas such as energy, infrastructure, agriculture, and technology while government is playing its role in providing a conducive environment for businesses to flourish.
Gilani said that organizations like CCCPK are leading the way for prosperity and positive outcomes through economic cooperation and Pakistani local entrepreneurs and companies can learn a lot from their Chinese friends.
He noted with satisfaction that the Belt & Road Initiative and the China-Pakistan Economic Corridor have tremendously shaped the energy and infrastructural landscapes of Pakistan. He further observed that as the CPEC ushers in phase 2 development, the bilateral cooperation will further expand into agricultural modernization, industrial growth, mining and mineral resources exploration, science and information technology, educational and cultural partnership, thus transforming Pakistan’s socioeconomic development.
Chairman Senate also mentioned the Global Development Initiative, launched by visionary President Xi Jinping in the post-Covid world, and said that the timely initiative institutionalized the cooperation required for implementing the Sustainable Development Goals. “It is a matter of satisfaction that China shares aspirations with Pakistan in achieving the SDGs”, the Chairman Senate remarked. He also underscored the need to enhance people to people connectivity and cultural linkages for realizing the common goal of an integrated, peaceful and cooperative region. He also thanked the Mr. Wang Huihua, Chairman of the China Chamber of Commerce in Pakistan and other team members for organizing such a wonderful event.
The Chairman of the Senate Standing Committee on Finance and Revenue, Senator Saleem Mandviwalla also echoed the sentiments shared by the Chairman Senate. Addressing the participants, Senator Mandviwalla emphasized the significance of regional economic integration in light of the evolving global economic landscape, highlighting the critical role of the China-Pakistan Economic Corridor (CPEC) in transforming Pakistan’s energy and infrastructure sectors. He lauded Chinese investment as a key driver in addressing Pakistan’s power shortages and creating jobs, reinforcing the deep, strategic partnership between the two nations, which continues to thrive through initiatives such as the Belt and Road Initiative.
The Chinese Ambassador, H. E. Jiang Zaidong, expressed gratitude for Pakistan’s support in creating a conducive environment for Chinese companies. He noted that with the China-Pakistan Economic Corridor (CPEC) now in its second phase, more investments from China were anticipated, as several projects from the first phase were set to be operationalized.
The Federal Minister for Finance, Muhammad Aurangzeb, emphasized the important role and performance of Chinese companies. He mentioned that the support provided by Chinese companies to the energy sector was significant and expressed hope for more cooperation in the second phase of the China-Pakistan Economic Corridor (CPEC), which he described as crucial and rewarding.
Federal Minister for Information Atta Tarar emphasized the importance of Pakistan-China relations, stating that both countries share a strong emotional bond that has continued to grow over the years despite the challenges posed by spoilers. He added that China supported Pakistan at a time when no investor was ready to invest in the country and when it was facing long hours of load shedding.
Senator Saleem Mandviwalla stated that the two reports highlight China’s steadfast commitment to supporting Pakistan’s economic prosperity and the close cooperation between the two countries. Liu Yanggang, Vice General Manager of Three Gorges South Asia Investment Company in Pakistan, remarked that this was a historic moment as the contributions of Chinese companies in Pakistan gained recognition.
Ambassador Jauhar Saleem, President of the IRS, emphasized that both reports were vital for boosting confidence in the business communities of both countries and would facilitate increased investments in Pakistan.
