Chinese Urged To Open Businesses In Pakistan To Overcome Labour Costs
Muhammad Rameez Published August 29, 2016 | 05:16 PM
ISLAMABAD, (UrduPoint / Pakistan Point News -29th Augst,2016) : The economic and trade experts at the China-Pakistan CEOs Forum Monday urged upon the Chinese companies to open their businesses in Pakistan to overcome the high labour costs they have been facing in China as Pakistan has huge bulge of youth population which could be utilized for the economic development. The experts were participating as panelists in a discussion during the second session of CPEC Summit and Expo here.
The summit was organized by Ministry of Planning Development and Reform. Moderating the session, Bashir Ali Mohamamd, Chairman Gul Ahmed Textile Mills said that since West has failed to share globalization opportunities, so it is China now which has come with new strategy and vision to promote growth.
Since Pakistan is the best fried, it must take benefit of the opportunities offered by China, he remarked. Ali Mohammad was accompanied by two Chinese and one Pakistani panelists to carry on the discussion on the opportunities and benefits of China Pakistan Economic Corridor (CPEC). He was of the view that 21th Century belongs to Asia due to vast opportunities and potential it has been offering, however stressed the need for regional connectivity to take advantage of this potential. He said that the China Pakistan Economic Corridor (CPEC) would boost growth as it would create connectivity in the Asian region. He said that China was still exporting worlds 36 percent textile, so if the Chinese shift this industry to Pakistan it would be beneficial for them as well as for Pakistan.
If the Pakistani and Chinese businessmen come together, it would have great advantage for them he said. Meanwhile, in his brief intervention, Federal Minister for Planning, Development and Reform, Ahsan Iqbal urged the need for undertaking proper homework before initiating any project.
He said that the CPEC projects have been fundamentally based on three principle including scientific planning, step by step approach and easier part first. He said that when a proper homework is lacked, it results in failure of the project, so necessary attention has been given towards devising comprehensive and result-oriented projects. Earlier, the Chinese panelist Wang Zihai on the occasion said that the CPED was the project of regional economic integration and a showcase project for enhancing friendship.
He was of the view that win-win nature of benefit must be the guiding principle and urged for further enhancing people to people contacts and launching joint venture. The other panelists also supported promoting business to business contacts and joint ventures to have shared benefit of economic growth in the region.
A logistic expert while participating in the discussion said Pakistan needs to develop its logistic and trucking industry on modern lines.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 27 April 2024
Today Gold Rate in Pakistan 27 April 2024
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
More Stories From Business
-
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 27 April 2024
7 minutes ago -
Today Gold Rate in Pakistan 27 April 2024
49 minutes ago -
Finance minister reviews progress on FBR digitalization
10 hours ago -
US stocks rebound on tech earnings, London hits new record
10 hours ago -
US approves gene therapy treatment for hemophilia
10 hours ago -
KATI president for inclusion of agri sector in tax net
10 hours ago
-
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-level delegation’s v ..
11 hours ago -
Police to take every step for security of business community: IGP
11 hours ago -
WB director, Planning minister discuss reforms in development projects
12 hours ago -
IP rights crucial in achieving SDG : Jam Kamal
13 hours ago -
FBR’s data protection efforts commended by OECD assessment team
13 hours ago -
US stocks rebound on tech earnings, London hits new record
14 hours ago