China links industrial investment in Pakistan with incentives

KARACHI: The Chinese government, which plans to shift their primary and secondary industry to other countries, has clarified to Pakistan that the Chinese investment would only go the countries offering better facilities and incentives, Sources told Customnews.pk on Tuesday.

The delegation of Pakistan Customs officers who was in China on the invitation of Chinese Ministry of Commerce has arrived back home and would submit their recommendations regarding establishment of trade zones for Chinese industry along the economic corridor.

The Chinese government had invited the officers from Pakistan Customs to visit the trade zones in China and have a view of infrastructure facilities that would be needed at the trade zone sites along the 3,000 KM corridor.

Sources told Customnews.pk that the delegation comprised of Collector Javed Chaudry, Director Ms. Shahnaz Maqbool and Secretary Management FBR Waqas Aslam. Ministry of Commerce asked FBR to nominate three officers for the visit of China. FBR had nominated the above mentioned three officers. The delegation visited free trade zones in Beijing, Shenzen and Shian.

The meeting with the Chinese government people discussed the future course of action regarding free trade zones. The meeting discussed the facilitation and incentives for the Chinese investors who would be moving to Pakistan with their investments.

Chinese investors plan to shift primary as well as their secondary industry to developing countries offering cheaper labor, which is now expensive in China.

The Chinese side appraised the Customs delegation that the investors would move to countries offering better facilities and incentives. However, they said Pakistan was their first priority. However, other options are also available them including India.

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