Economy

Pakistan to facilitate Chinese investment: PM

(Xinhua)
Updated: 2011-06-18 16:44

ISLAMABAD -- Pakistani Prime Minister Yousuf Raza Gilani said Friday that Pakistan will facilitate Chinese investment in all sectors.

Talking to a visiting Chinese delegation, the prime minister instructed the chairman of Federal Board of Revenue to sort out the impediment in ushering greater Chinese investment in the fields of petroleum and natural resources, infrastructure and energy.

"We would welcome Chinese entrepreneurs and business to Pakistan, and assist them by providing all possible incentives and security measures," Gilani said.

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Leader of both countries, he said, are committed to promoting bilateral economic cooperation. Relations with China are the cornerstone of Pakistan's foreign policy, he added.

He said bilateral relations are win-win in nature and both countries need to strengthen the time-tested friendship by further promoting economic cooperation.

Zhang Hongwei, CEO of Orient Group Inc, who led the Chinese delegation, said the objective of his visit is to further enhance investment in Pakistan. He said that keeping in view the geopolitical location and big potential of the country, a number of Chinese companies are looking forward to bring their investment in Pakistan.

The prime minister said that the success of Orient Group Inc has been recognized as a model of China's reforms of non-State-owned enterprises. He welcomed the purchase of assets of British Petroleum Pakistan by Orient for $775 million.

Gilani also welcomed the Chinese interest in the education and social sectors. He apprised that the government is conducting a poverty survey to evolve a mechanism for alleviation of poverty through a transparent system.