KARACHI: China has finalised new joint venture agreements worth $1.5 billion with Pakistan and signed memoranda of understanding (MoUs) valued at around $9 billion in the agriculture, automotive and minerals sectors, Federal Minister for Investment Qaiser Ahmed Sheikh said on Thursday.
Speaking to The Express Tribune, the minister said China is also expected to make an additional $10 billion investment in Pakistan in the near future, as global interest in the country continues to grow and broader foreign investment inflows are anticipated in the coming years.
He disclosed that a 300-member trade delegation, organised by the Government of Pakistan and comprising business leaders from multiple sectors, recently visited China to strengthen bilateral economic engagement.
Highlighting infrastructure development plans, Sheikh said the government intends to link the Reko Diq project to Karachi via Chagai, facilitating connectivity through a dedicated railway track and a new highway. He added that $7 million will be secured from international financial institutions for the development of an economic corridor connecting Chagai to Karachi.
The minister also noted that following the success of Operation Bunyan-un-Marsoos, international demand for Pakistan’s fighter aircraft has increased, with production orders expected from several countries.
According to Sheikh, the agriculture and mining sectors are likely to attract the largest share of foreign direct investment (FDI) in Pakistan.
Separately, speaking at the 8th Pakistan Leadership Conversation organised by ACCA, the minister said Pakistan’s aspiration to become a trillion-dollar economy hinges on strong alignment between policy, capital, industry and institutions, warning that fragmented efforts cannot deliver sustainable growth.
He emphasised that digital technologies, artificial intelligence and fintech have the potential to accelerate economic development, provided they are scaled beyond pilot projects and integrated into the broader economic framework.
Story by Ehtesham Mufti
