Advise­r says govt wants Chines­e compan­ies to form joint ventur­esISLAMABAD: Seven Chinese companies have expressed willingness to relocate their industrial units to Pakistan in the second phase of industrialisation under the China-Pakistan Economic Corridor (CPEC), said Adviser to Prime Minister on Commerce Abdul Razak Dawood. CPEC extremely crucial for economic security: speakersHe said the government would prefer the Chinese companies forming joint ventures with Pakistani companies. “If Chinese companies do not enter into joint ventures with Pakistani companies, we will allow them 100% ownership,” he said, adding the relocation of Chinese industrial units would create job opportunities and enhance skills of local people. China has also expressed the willingness to relocate its industrial units to Pakistan. Pakistan would receive investments and enjoy transfer of technology under the CPEC’s industrial phase, he added.

Source: The Express Tribune June 22, 2019 04:17 UTC