Pakistan and Chinese Companies Sign Investment Deals Worth Over $7 Billion
Pakistani and Chinese companies signed agreements and memorandums of understanding worth more than $7 billion during a business investment conference held in Hangzhou, China.
The Pakistan-China Business-to-Business (B2B) Investment Conference focused on key sectors including information technology, telecommunications, agriculture, and battery energy storage systems.
Addressing the conference, Prime Minister Shehbaz Sharif invited Chinese companies to expand investment in Pakistan and explore opportunities for joint ventures with local businesses. He said Pakistan is offering investor-friendly policies to support industrial growth and exports.
Focus on Industrial Cooperation and Exports
The prime minister said Chinese firms could relocate industries facing higher production costs and partner with Pakistani companies to manufacture products for international markets.
He also encouraged investors to explore opportunities in Karachi’s export zone along with Pakistan’s mining, minerals, and agriculture sectors.
According to officials, stronger industrial cooperation between Pakistan and China could help create jobs, increase exports, and support long-term economic growth.
Agriculture and Technology Partnerships Highlighted
Prime Minister Shehbaz Sharif said Pakistan has significant potential to improve agricultural productivity through modern seeds, mechanisation, and advanced farming methods.
He noted that China imports nearly $100 billion worth of agricultural products annually and said Pakistan aims to increase its agricultural exports to China over the next several years.
The conference also highlighted opportunities in information technology, artificial intelligence, and special economic zones. Officials said a new special economic zone covering more than 6,000 acres has been established in Karachi to attract investment partnerships.
Major Agreements Signed During Conference
Among the major agreements signed during the event:
- A $1.12 billion agreement between Haolu Engineering and Technology Company Limited and Fauji Fertilizer Company for fertilizer production
- A $100 million memorandum of understanding between IBI Beijing United Information Technology Company and RIC related to agrochemicals, agricultural machinery, and a regional office in Multan
Officials stated that more than 200 memorandums of understanding worth over $20 billion have been signed during multiple Pakistan-China business conferences so far.
Meetings With Major Chinese Companies
During the visit, Prime Minister Shehbaz Sharif also met executives from major Chinese firms including CATL, StarCharge, and Alibaba Group.
At Alibaba Group headquarters in Hangzhou, the prime minister was briefed by Joe Tsai. Both sides signed a long-term cooperation agreement covering cloud computing, artificial intelligence, trade facilitation, healthcare, telemedicine, financial technology, and agriculture.
Officials say the agreements could help strengthen economic cooperation and expand investment opportunities between Pakistan and China in the coming years.
