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K-P signs 11 MoUs with Chinese companies

BEIJING: The Khyber-Pakhtunkhwa (K-P) government signed 11 MoUs with Chinese companies for completion of various development projects taking place in the province under the China-Pakistan Economic Corridor (CPEC) framework.
The projects fall in the spheres of information technology, special economic zones, power plants, oil refinery, infrastructure and e-commerce.
Speaking on the occasion, K-P Chief Minister Parvez Khattak invited the Chinese companies and businessmen to take advantage of investment-friendly atmosphere in the province for mutual benefits.
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Terming Peshawar a key city on the western route of CPEC, he said it is located at a strategic location connecting different regions. He said that during the last four years, his government has introduced reforms in health, education and infrastructure and created investment-friendly environment in the province.
Emphasising the importance of CPEC, China-Pakistan Friendship Association President Sha Zhu Kang said the success of One Belt and Road Initiative is linked with CPEC as it is the pilot project of the initiative.
This project will not only benefit both China and Pakistan but is also beneficial for regional and global economic growth of countries and economies along the One Belt One Road Initiative, he added.
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Sha said that Chinese companies are already working in K-P and providing job opportunities to a large number of locals.
Welcoming the audience, Pakistan Ambassador to China Masood Khalid informed that around 86 projects including energy, agriculture and infrastructure would be presented for investment and cooperation.
The official said that CPEC is showing steady progress and now the Gwadar Port is operational and energy and infrastructure projects are being completed in accordance with their timeframe.
He asked the Chinese investors and businessmen to take good advantage of favourable environment and the untapped potential in different sectors.
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Special Envoy on CPEC Zafar Mahmood said K-P offers the best possible opportunities for investment and expressed confidence that Chinese companies will take a lead in tapping this advantage.
Later, officials of K-P government presented an overview of different projects.
He sought cooperation in hydel power, oil and gas exploration, development of infrastructure in tourism sector, mines, mineral and precious stones. APP