PM Imran Khan just announced the launch of the Pak-China Business Investment Forum which is aimed at encouraging effective communication between corporations in both countries. Tackling the problem of tiresome investments and their slow materialisation in Pakistan, this forum has immense potential in transferring vital skills from professionals in China that will help boost business activity domestically and internationally.
The forum already incorporates 18 Chinese companies and 19 Pakistani counterparts that are going to focus on urban planning, long-term sustainable investment and the transfer of modern technology and business methodologies. This is a good strategy moving forward, especially considering the dire need to enhance economic growth within the country. Plus, there is no better country than China to help Pakistan with such a process given how successful it has been in maintaining the delicate balance between urban development and environmental preservation, retaining investments and turning them into successful corporate models as well as becoming one of the largest exporters in the world.
Pakistan is plagued with issues of development—economic, infrastructural and environmental alike—that require attention from experienced personnel. Business-to-business cooperation with China is bound to not only allow our entrepreneurs to learn new skills but will increase opportunities for investment as well as the probability of success. Furthermore, much like Pakistan, China tackled infrastructural needs stemming out of population growth and ensured equal distribution of resources. Attaining this is one of the central focuses of the forum and gladly so keeping in mind the state of metropolitan cities like Karachi.
The need for industrialisation cannot be underscored either; Pakistani industries still rely on traditional methods and while they have been effective so far, their performance is not comparable to heavily mechanised countries that have larger outputs. Utilising modern technology is now a need as per the standards of global development and we must hop on board. The forum promises us exactly that, a chance to catch up with the rest of the world.​
Source: Published in The Nation