Federal Minister for Investment and Board of Investment (BOI) Chairman Qaiser Ahmed Sheikh. PHOTO: FILE
KARACHI:
China has signed new investment agreements worth billions of dollars with Pakistan and is set to invest up to $10 billion in the near future, Pakistan’s Federal Minister for Investment Qaiser Ahmed Sheikh said on Thursday.
In an exclusive interview, Sheikh said global attention was increasingly focused on Pakistan, with expectations of broad-based foreign investment in the coming years. He added that new joint venture agreements worth $1.5 billion have been finalised between the governments of Pakistan and China.
In addition, China has signed memorandums of understanding (MoUs) worth about $9 billion in Pakistan’s agriculture, automotive, and minerals sectors, signalling a renewed push for large-scale cooperation across key industries.
Sheikh said a major Pakistani trade delegation comprising around 300 business leaders recently visited China to attract further investment.
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He added that the government plans to connect the Reko Diq mining project to Karachi via Chagai with a special railway track and a new highway to facilitate transport and trade. Around $7 million would be secured from international financial institutions for the development of this economic corridor.
The minister also noted that following the success of Bunyan-un-Marsoos, global demand for Pakistan’s fighter aircraft has increased, with several countries expected to place orders.
Sheikh said the largest share of foreign direct investment in Pakistan is expected to flow into the agriculture and mining sectors.
