The Khyber Pakhtunkhwa (KP) government has announced its commitment to facilitating Chinese investment in the province, emphasizing the provision of necessary facilities and security measures to support Chinese investors. This declaration was made during an international seminar on the China-Pakistan Economic Corridor (CPEC) held at the China Window in Peshawar.
Key provincial officials, including Adviser to the Chief Minister on Finance Muzammil Aslam, Special Assistant on Industries Abdul Karim Khan, and Adviser on Information Barrister Muhammad Ali Saif, highlighted the establishment of a Special Security Unit dedicated to protecting Chinese investors and their assets. They also urged the federal government to abolish the requirement for No Objection Certificates (NOCs) for Chinese and other foreign nationals to streamline the investment process.
Muzammil Aslam noted that under the Belt and Road Initiative, CPEC has brought Pakistan $25.4 billion in direct investment, created 236,000 jobs, constructed 510 kilometers of highways, generated over 8,000 megawatts of electricity, and laid 886 kilometers of core transmission lines. He emphasized the need to move beyond rhetoric and focus on tangible economic development, particularly in KP, through Chinese cooperation.
Abdul Karim Khan pointed out that KP’s strategic location, resources, and human capital position it to play a significant role in the second phase of CPEC. He mentioned the government’s efforts in establishing industrial zones and special economic zones, citing the Rashakai Economic Zone as a successful example attracting both local and foreign investors.
Barrister Muhammad Ali Saif reiterated that CPEC is a joint project aimed at economic development and prosperity between Pakistan and China. He outlined plans for China to build a high-level connectivity network to deepen development integration, strengthen industrial and supply chain cooperation, and promote people-to-people exchanges.
Chinese investors at the seminar expressed strong interest in investing in KP but highlighted challenges such as delays in obtaining NOCs. Prominent Chinese businessman Wang Qi advocated for the establishment of a one-window operation system to streamline investment procedures and eliminate bureaucratic hurdles. He also announced readiness to initiate major investments that could immediately employ over 50,000 skilled local workers, contingent on the introduction of investor-friendly policies by the KP government.
The seminar concluded with mutual expressions of commitment to enhancing bilateral cooperation under the Belt and Road Initiative, aiming to unlock significant investment opportunities and create employment for local communities.