2nd session of CPEC Conference: Speakers enlist factors to ensure fast delivery of projects

PESHAWAR: The second session of a two-day CPEC Industrial Cooperation Virtual Conference, organised by a Chinese university and Khyber Pakhtunkhwa Board of Investment & Trade as part of 70 Year Celebration of Pak-China friendship was held on Wednesday.

Besides KP BoIT, the event is being organized by Centre for Pakistan Studies, Peking University, Beijing, China.

The conference had a list of panelists from both sides to highlight Industrial Cooperation under CPEC, including Federal Minister Planning Development & Special Initiatives Asad Umar, Ambassador of China to Pakistan Nong Rong, Senator Mushahid Hussain, Chairman, Federal Board of Investment Atif Bukhari, CEO, KP-Board of Investment & Trade Hassan Daud Butt, CEO Pakistan KASB Securities Nasir Ali Shah, Chairperson, SASSI University Dr. Maria Sultan, Executive Director SDPI Dr. Abid Suleri, Associate Professor IBA Dr. Huma Baqai, and panelists from China.

Asad Umar said that the virtual conference was taking place at an important time of 50 years of US-China diplomatic relationship, which was facilitated by Pakistan. He appreciated idea of SEZ to SEZ cooperation between Pakistan and China. He informed the audience that the PM is taking special interests in CPEC projects, which he said are progressing well.

He said e-commerce is being actively pursued by the government of Pakistan, with focus on payment gateways and cloud networks, etc. And also work on land cost settlement is expected to be settled soon, he said.

Speaking on the occasion, Nong Rong said that government of Pakistan is working continuously to improve business environment and enhance Ease of Doing Business.

The chambers of commerce from both sides are encouraged to take full advantage of the forum through Business-to-Business cooperation. Financial institutions may be encouraged to support the projects and take advantage of the opportunities offered by CPEC. Universities and think tanks are strategic contributors towards development and hence, they are invited to offer suggestions and opinions on any issues emerging in the CPEC.

Mushahid Hussain Syed said that China invested in times when Pakistan had significant security challenges and no other country was willing to invest in this country. As the second phase of CPEC progresses, the best is yet to come in the form of industrial relocation, creation of jobs, Information Technology development, transfer of technology, people to people contacts and tourism, he said.

Hassan Daud Butt said that the second phase of CPEC in the form of industrial cooperation is expected to play an important role in bringing development to Pakistan and socio-economic uplift of the people.

The industrial cooperation will result in opportunities for Pakistani businesses to benefit from CPEC through transfer of technology and Pakistani firms may venture in avenues of global e-commerce, global value chains and enhanced capacity of Pakistani workforce.

The conference was attended by a number of participants from China and Pakistan including public and private sector stakeholders.

Other speakers highlighted the requirement to improve financing modalities, narrative management and improving efficiencies at various notes to ensure fast delivery of CPEC projects.