• Monday, January 21, 2019

Inconsistent policies keep Chinese investors at bay: envoy

Discussion in 'Strategic & Foreign Affairs' started by OsmanAli98, Jan 11, 2019.

  1. OsmanAli98

    OsmanAli98 FULL MEMBER

    Messages:
    1,915
    Joined:
    Aug 22, 2018
    Ratings:
    +0 / 2,340 / -0
    Country:
    Pakistan
    Location:
    United States
    LAHORE: Chinese Ambassador Yao Jing says that inconsistent trade policies, high ratio of taxes and some other issues are reasons for the presence of fewer Chinese investors in Pakistan.

    “The main reasons behind fewer Chinese investors in Pakistan are poor trade policies, high taxes, no tax incentives and lack of business-friendly environment,” a local news channel quoted the ambassador as having said while speaking to businessmen at the Lahore Chamber of Commerce and Industry (LCCI) on Wednesday.

    “Your policies lack consistency, keeping investors from China and elsewhere at bay,” he responded when the business community asked why Chinese companies, after relocating their businesses from the United States, were preferring investment in other countries, including Cambodia and India, instead of Pakistan that was already executing several projects under the China-Pakistan Economic Corridor.

    Yao says while PML-N govt paid full attention to Gwadar port, infrastructure and energy projects, it neglected completion of special economic zones

    The ambassador said that under the CPEC, projects relating to the Gwadar port, infrastructure, energy and special economic zones (SEZs) were to be completed.

    “Though the outgoing PML-N government paid full attention to the Gwadar port, infrastructure and energy projects, it neglected completion of the SEZs. Since there are no SEZs too, how Chinese investors can make investments,” he said.

    Under the CPEC, Mr Yao said, the SEZs should be given priority because they would boost joint ventures, specifically in manufacturing and socio-economic sectors of the country.

    “In SEZs and joint venture schemes, 70-80 per cent priority would be given to Pakistan shares and exports of Pakistan would increase by 70-80pc,” he maintained. He also revealed that the CPEC would soon be opened to the world for investment.

    The Chinese envoy said Pakistan was required to make its trade policies better, besides bringing down ratio of taxes and duties and making its products competitive. “Improvement of competitiveness will help your country make trade balanced.”

    He praised the Pakistan Tehreek-i-Insaf government for having export-oriented vision. “The new government has an export-oriented vision and looks determined to resolve various issues,” the ambassador said.



    Published in Dawn, January 10th, 2019

    Download the new Dawn mobile app here:

    Google Play

    Apple Store

    CPEC, CPEC PROJECTS
    PAKISTAN
    Facebook Count70
    Twitter Share

    14

    Read more
    [​IMG]
    KPT gets in line for slice of CPEC pie
    [​IMG]
    Smokers' Corner: How did Pakistan and China become close allies?
    [​IMG]
    CPEC concerns deserve careful attention as govt gears up for Beijing meeting


    [​IMG]

    SPONSORED
    Mayfair Cafe celebrates 'little joys of life' with its latest digital c
     
    • Thanks Thanks x 1
  2. Hakikat ve Hikmet

    Hakikat ve Hikmet SENIOR MEMBER

    Messages:
    5,804
    Joined:
    Nov 14, 2015
    Ratings:
    +5 / 5,527 / -1
    Country:
    Turkey
    Location:
    United States
    Once Pak gets rid of the suicide bomber agents in 3-piece suits, sent to kill Pak from inside, Insha'Allah stuffs will move damn smoothly and swiftly for her...

    After the last financial meltdown in Turkey in 2000, she needed 40-50b IMF bailout for an official 160b economy!! But, she did the required fiscal and other reforms, concentrated on exports/FDI/trade etc., and the results are now there!! EU helped with the customs union. Pak is gong through a similar phase with a smaller bailout. Increased trade via CPEC will do the job....
     
    • Thanks Thanks x 1
  3. HAIDER

    HAIDER ELITE MEMBER

    Messages:
    17,647
    Joined:
    May 21, 2006
    Ratings:
    +13 / 15,156 / -1
    Country:
    Pakistan
    Location:
    United States
    Nawaz set the foundation of extreme corruption, when he came in power first time. Then came mother Zardari.
     
    • Thanks Thanks x 1