48% of Chinese companies operating in Pakistan to expand their businesses: Jiang Zaidong

Lahore — Pakistan, says Chinese Ambassador to Pakistan, Jiang Zaidong, while announcing that according to a recent survey, 48% of Chinese companies operating in Pakistan believe it worthwhile to continue and expand business ventures there. The envoy called for deepening cooperation in all fields, including mining and agriculture, during the “High Level Private Leaders Dialogue” organized by the newly established Pakistan Regional Economic Forum (PREF).

The event was arranged at a local hotel and attended by Chinese officials, including Consul General in Lahore Zhao Shireen and Pakistani business leaders. Former Ambassador to China Naghmana Hashmi and Vice-Admiral (R) Khan Hasham bin Siddique also attended. Finance Minister Muhammad Aurangzeb addressed the forum through Zoom from New York, urging private players to actively engage in the China-Pakistan Economic Corridor and contribute to the national economy.

She emphasized that “we should hold higher confidence in the prospect of Pakistan’s development and China-Pakistan relations,” noting, “We have to hold the country’s development in our own hands and China’s national development course in our own hands.”.

He called for agricultural cooperation, mentioning the benefits that neighboring provinces have seen and suggested that Pakistan improve mutually beneficial policies for Chinese and local entrepreneurs. Jiang clarified that the energy crisis in Pakistan has long-standing causes but that has nothing to do with China’s involvement or CPEC, he said there is a phase of transition of the sector that has improvement and stabilizing price as its goals.

Underlining Pakistan’s strategic location as the “window of Asia,,,” Jiang called attention to its latent potential especially when 60% of the population was below 30 years of age. He underlined the production volume in Pakistan on cotton, wheat, and other agricultural products. He was also appreciative of the Shehbaz Sharif government. There had been positive growth in terms of GDP, inflation had decreased, and foreign reserves had increased.