cpecnews news صفحۂ اول

Koreans willing to invest in CPEC

  • August 4, 2019
Koreans willing to invest in CPEC
Image caption Koreans willing to invest in CPEC

ISLAMABAD: Pakistan has urged the Korean companies to participate in CPEC related projects and also proposed for establishment of exclusive economic zone for Korean companies under this mega project. Adviser to PM on Commerce & Textile, Industries & Production and Investment Razzak Dawood asked the Korean companies in Pak-Korea CEO forum held in Seoul in which top Korean companies were represented.

Both sides resolved to address the bilateral trade and investment bottlenecks to enhance the economic cooperation between South Korea and Pakistan. In this regard, Korea will send buying mission/delegation of importers to Pakistan in coming months.

In order to enhance bilateral trade, Razak Dawood offered early harvest Programme to his Korean counterpart which may lead to Free Trade Agreement (FTA) between both the countries. In this regard, adviser asked his counterpart to hold meeting of Joint Trade Committee at the earliest in order to address trade issues and improve trade facilitation. Korean minister agreed to hold it near the end of this year.

Adviser was heading a delegation of textile top players who held engaging dialogue with the Korean investors and importers. He also held meetings with the heads of private sector organisations in his efforts to draw investment from Korea i.e. Lotte Group, Daelim, Daewoo E&C, K-Water, Korea Railway Network Authority (KRNA), Korea Energy (KOEN), Korea Hydro and Nuclear Power (KHNP), Korea Overseas Infrastructure and Urban Development Corporation (KIND) and Korea Importers Association (KOIMA).

The big Korean companies are interested to invest in different projects, pertaining to manufacturing of technology equipment, of mutual interest. Businessmen are very much interested to make investment in Pakistan owing to huge investment opportunities and intend to maintain a constant interaction with the business community for better understanding of prevalent investment regulatory regime in the country, Korean minister highlighted.

While addressing the forum adviser urged the Korean companies to invest in Pakistan owing to its improved global ranking in Ease of Doing Business Index by 11 points in 2019.

Moreover, Pakistan has launched a programme titled Regulatory Guillotine to ease the business regulations to attract investment in the country. Through this programme 2 to 3 regulations are removed every month to ease out the business activities, the adviser highlighted. He also added that Pakistan has taken various effective steps to improve trade procedures by establishing better trade facilitation regime.

Archives

Cabinet committee meeting on CPEC decided to prese nt the CPEC Authority's draft act before the federal cabinet for approval.
Prime Minister Khan Closely Monitors Progress on Development of SEZs
CPEC and Scientific Collaboration, COMSATS Hosts Guangzhou University Delegation
China: Attractive Market for Pakistani Kinnow Export, Secretary-General BMP
CPEC's Regional Connectivity Plan via Railway Proposed
1320 MW HUBCO Power Plant under CPEC Successfully Begins Commercial Operation
Multan-Sukkur Motorway to Urbanize Under-Developed Regions
Custom Collects China's Recent Present to Pakistan: Three Cargo Scanners
Package of Growth, Hope and Development Underlined for Balochistan under CPEC in NDC Meeting
NDC to Approve Gwadar Master Plan in its First Session
China earmarks $1 billion grant for various socio-economic projects in Pakistan
Three motorway projects completed under CPEC to open for general public by the end of August
Koreans willing to invest in CPEC
Pakistan and China share an identical world view: Gen Zubair
Pakistani Women to Rejuvenate Chinese Handicraft Industry
Pakistan to learn from the Chinese experience, ensures full support to investors: Chairman BOI
Pakistan and China to cooperate within the taxation domain
Government green signals the $8.2 billion ML-1 project
CPEC authority to get a full shape prior to JCC meeting
CPEC to boost economic growth in Balochistan
Phase II of CPEC to be a catalyst for industrial and agricultural development
Chinese firm Timesaco vows to overhaul the service sector in Pakistan by investing 20 million USD
China keen to enhance cooperation and connectivity through CPEC
Chinese Delegation receives flowers from the students of SBK Womens University Quetta
CPEC will reinvigorate Pakistan's economic conditions: Cheng Xizhong
Formation of CPEC authority is a proof of Pakistan's trust in CPEC
Transportation infrastructure overhauled after the completion of Sukkur-Multan Motorway
Speaker National Assembly Asad Qaiser terms China Pakistan relations a symbiosis Speaker National Assembly Asad Qaiser terms China Pakistan relations a symbiosis
CPEC to initiate an era of success for Balochistan
Quetta Declaration unanimously adopted by all major Balochistan political parties and civil society