China Commits Up to $10 Billion in New Investments in Pakistan
ISLAMABAD: China has signed new investment agreements worth up to $10 billion in Pakistan over the coming years, Federal Minister for Investment Qaiser Ahmed Sheikh said Thursday.
In an interview, the minister said $1.5 billion in joint venture agreements have been finalized between the governments of Pakistan and China. Additionally, China has signed memorandums of understanding (MoUs) worth approximately $9 billion in Pakistan’s agriculture, automotive, and minerals sectors.
Sheikh noted that a 300-member Pakistani business delegation recently visited China to attract further investment. He added that the government plans to link the Reko Diq mining project to Karachi via Chagai through a dedicated railway line and a new highway to improve logistics and trade, with around $7 million expected from international financial institutions for developing this economic corridor.
The minister also highlighted the growing international interest in Pakistan’s fighter aircraft following the success of the Bunyan-un-Marsoos program, noting that several countries are expected to place orders.
He said that agriculture and mining are projected to receive the largest share of foreign direct investment in Pakistan.
