Message from Minister of State/Chairman Board of Investment H.E.Mr.Atif R.Bokhari

Today marks the 70th anniversary of the diplomatic ties between Pakistan and China. Both countries are all-weather strategic partners and iron brothers. Friendly cooperation with China is not only the cornerstone of Pakistans foreign policy but also the consensus of all walks of Pakistani society. Every passing year of Pakistant-China diplomatic relations further strengthens the linkages between the two countries， which gives greater meaning to the famous expression that “Pakistan and China are communities with shared destiny”.

The China-Pakistan Economic Corridor （CPEC） is the embodiment of the brotherly relationship between both countries， which is based on the principle of a win-win cooperation. From making joint efforts in the establishment of the Karakoram Highway in 1959 to the signing of USD 46 billion investment projects under CPEC in 2014 during President Xi Jin Pings state visit to Pakistan， to the mutual endeavors in countering the COVID-19 pandemic， the fruits of this historically deep-rooted cooperation manifests in every aspect of the lives of common people of the two countries.

Considering the fact that CPEC is the flagship project of the Belt and Road Initiative （BRI）， the leaders of both countries have devised this visionary project for a long period. The CPECs long-term plan of 2017 is a testimony to this fact， wherein short-， medium- and long-term projects have been included until 2030. It is heartening that as envisioned in the plan， the short-term infrastructure projects have culminated， allowing Pakistan to benefit from its highly strategic geographic location of a transshipment hub， through the improved infrastructure， roads， deep water port， railways and an abundant power supply. These first phase projects were primarily Government to Government （G2G） short-term infrastructure projects providing a strong backbone for Business to Business （B2B） and People to People （P2P） cooperation for the second phase medium-long term projects of Industrial， Socio-Economic， Agricultural and Scientific and Technological cooperation.

Keeping in view the strategic and historical significance of the Pakistan-China relationship， I can assure you that the Board of Investment is extremely pleased to be playing a major role in nurturing this bond. Our liberal Investment Policy has attracted investment from a large number of Chinese enterprises， making the Peoples Republic of China the largest FDI source country in Pakistan by contributing nearly 33% to the total FDI since the inception of CPEC in 2013. Moreover， this share is expected to grow even further with the advent of the second phase of CPEC.

It is pertinent to mention that the opening up of China in 1979 revolutionized the country， both politically and economically， setting up the foundation for a rising nation， as we know it today. Amongst the several measures taken at that time， the establishment of the Special Economic Zones （SEZs） was a true turning point. In this regard， Pakistans recent endeavors alongside China for the setting up of exemplary SEZs is a true manifestation of the trust between the two nations. The SEZs in Pakistan offer 10 years income tax holidays and import duty exemption on capital goods， moreover， to-date 22 Public and Private SEZs have been notified. The signing of the Development Agreement of the Rashakai SEZ， which is being jointly developed by China Road & Bridge Corporation （CRBC） and Khyber Pakhtunkhwa Economic Zones Development & Management Company （KPEZDMC） was witnessed by the Honorable Prime Minister of Pakistan， Mr. Imran Khan， which is a true testimony of the high significance of these zones.

In addition to the above， there has been an unprecedented focus on innovation within the two countries， which in turn has led to the introduction of innovative policies in Pakistan， such as， the Mobile Device Manufacturing and the Electric Vehicle Policies to name a few. These policies have received strong support from the Chinese stakeholders， with notable Chinese companies already establishing their units in the SEZs in Pakistan， while benefiting from both the SEZ and sectoral policy incentives.

In the end， let me conclude by affirming that being the apex Investment Promotion Agency of Pakistan， the national secretariat for the SEZs and the Pakistani side convener of the CPEC Joint Working Group on Industrial Cooperation， the Board of Investment is always open to join hands with the Chinese friends for having meaningful cooperation.

“A world of opportunities is just a step away. Invest in Pakistan today.”