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Chinese industrialists plan $1bn investment

ISLAMABAD: Chinese investors have shown willingness to invest around $1 billion in various sectors including automotive, textiles, agriculture and related industries, information technology and telecom industries.

The Chinese delegation from the city of Chongqing met Plan­ning Minister Makhdoom Khusro Bakhtyar on Thursday and discussed proposals to explore opportunities for future cooperation.

Chongqing is a centre of heavy industrial activity in central China, especially automotive and electronics industries of the region along with 37 industrial parks.

Bakhtyar assured that the planning ministry will extend support and facilitate investment to further the economic cooperation between the two countries.

Talking about China-Pakistan Economic Corridor, the planning minister noted with appreciation that CPEC has now entered in its second phase with focus on industrial and agriculture cooperation, socioeconomic development and Gwadar. The establishment of industrial zones has the potential to revive the country’s industrial sector.

China can help increase Pakistan’s exports by relocating export-oriented industries and initiating joint ventures in various fields which will boost cooperation and strengthen bilateral economic partnership between the two countries, he added.

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