Islamabad: Chinese businesses are willing to spend $15 billion in Pakistan’s petrochemicals sector in Gwadar, including an energy pipeline project between Gwadar and China.
Fareena Mazhar, the Federal Secretary of the Board of Investment (BOI), said on Sunday that bilateral talks for investment in various projects connected to Chinese investment in Pakistan were underway. It was hoped that Chinese corporations will invest in Pakistan in the future in industries such as energy, agriculture, tourism, and others.
She stated that the government aimed to foster the culture of Small and Medium Enterprises (SMEs) in the country in order to attract foreign investment and generate jobs, and that it was launching a new SMEs policy as well as initiating regulatory reforms to improve business rules.
In response to a question, she stated that the ‘7th Reform Action Plan’ was primarily focused on improving firm entry regulations, electricity reliability, tax regulations, trade regulations, creditors’ rights, better property rights, and court efficiency, among other things, and that reforms in these areas play a significant role in the economic development process.