KEY POINTS
- Pakistan and China signed 21 business MoUs worth $4.2bn, marking the launch of CPEC 2.0.
- PM Sharif pledged full facilitation for Chinese investors and assured their security in Pakistan.
- The new phase of CPEC will focus on B2B investments in agriculture, IT, AI, minerals, and industrial relocation.
- PM Sharif hailed China’s role in transforming Pakistan’s energy sector and called the partnership “stronger than steel.”
ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif on Thursday pledged full facilitation for Chinese investors as the two countries’ business firms signed 21 memorandums of understandings (MoUs) worth $4.2 billion in diverse sectors, marking the formal launch of the next phase of the China–Pakistan Economic Corridor “CPEC 2.0”.
Addressing the signing ceremony in Beijing, Prime Minister Sharif unveiled a bold new vision for Pakistan-China economic cooperation, announcing the formal launch of CPEC 2.0. He was delivering a keynote address at the Second Pakistan-China B2B Investment Conference in Beijing.
Welcoming the high-level delegates, PM Sharif described the forum as a reflection of the iron-clad brotherhood between Pakistan and China.
Addressing concerns about bureaucratic delays, Premier Sharif issued a clear and direct message: “We will not tolerate a second’s delay. I recently ensured that a Chinese entrepreneur was facilitated within 24 hours. That’s the level of commitment I am talking about.”
The Prime Minister reassured the Chinese delegation of Pakistan’s unwavering commitment to investor facilitation, stating that Chinese investors will be treated as partners and that “Pakistan is your second home, just as China is ours.”
PM Sharif said security of Chinese nationals in Pakistan is a top priority, adding: “The safety of Chinese citizens is paramount.
“This is one of the largest business conferences I have attended during my visit to this great country,” the Prime Minister said.
“Our relationship with China is unmatched, higher than the Himalayas, deeper than the deepest oceans, sweeter than honey, and stronger than steel,” said PM Sharif.
Referring to the CPEC agreement signed in 2015 during President Xi Jinping’s historic visit to Pakistan, PM Sharif credited the first phase of CPEC with transforming Pakistan’s energy and infrastructure landscape.
“We were facing up to 20 hours of power outages daily. Today, thanks to President Xi’s dynamic and visionary leadership, Pakistan has become energy self-sufficient. That was the turning point,” PM Sharif noted.
The Prime Minister announced the launch of CPEC 2.0, which will shift focus toward business-to-business (B2B) investments in agriculture, IT and AI, minerals, and industrial relocation.
“Our agriculture sector employs 60 percent of our population. China has excelled in this field, and we seek your partnership to modernize our agricultural practices and increase exports,” PM Sharif urged Chinese investors.
The Prime Minister emphasised the role of Special Economic Zones (SEZs) in attracting investment, offering competitive advantages such as cheaper skilled labour and joint ventures to produce high-quality export goods.
PM Sharif commended President Xi’s leadership in promoting multilateralism and shared prosperity, saying that China has changed the destinies of many nations, a testament to its “visionary and dynamic leadership”.
In his closing remarks, the Prime Minister reiterated his determination to transform Pakistan’s economic landscape.
“We know the path is difficult, but not impossible. With China’s support and our commitment, we will make Pakistan a strong and vibrant economy. Let today mark the beginning of that journey.”
Chinese and Pakistani investors, government officials, and dignitaries, including Deputy Prime Minister Ishaq Dar, the Ambassador of Pakistan to China Khalil Hashmi, and Chairman of China Council for the Promotion of International Trade, federal ministers and others were present on the occasion.
