ISLAMABAD, April 24 (Gwadar Pro) - A webinar on China-Pakistan Economic Corridor (CPEC) Investment Opportunities for Third Countries co-sponsored by Chinese Embassy and Pakistani Embassy in Indonesia was held on Thursday. Speakers highlighted that as a landmark project of Pak-China cooperation and pilot project of BRI, CPEC is a great plan for regional connectivity and infrastructure development, which would open new avenues of mutually beneficial cooperation between Pakistan, China and Indonesia.

 

Pakistani Ambassador H.E. Muhammad Hassan, said in welcome remarks that in CPEC Phase-2, numerous special industrial and economic zones are being developed along the CPEC routes, providing investment opportunities to not only local and Chinese investors, but also from third countries.

 

“This is the best time for Indonesian investors to invest in Pakistan. The Government of Pakistan is providing special incentives for investment in various CPEC projects including the key sectors of agriculture, textile, mineral, gemstones, marble and stone, leather, food processing, infrastructure development, real estate and tourism sectors.” H.E. Muhammad Hassan further explained that, “in all these sectors, Indonesian companies have vast experiences and competitive advantages.”

 

Chinese Ambassador H.E. Xiao Qian, mentioned that CPEC has achieved significant progress during the past seven years. China and Indonesia are friendly neighbors just across the sea and the comprehensive strategic partners. China and Indonesia have been working together to synergy the BRI and the global maritime fulcrum steadily pushing forward significant projects. China, Pakistan and Indonesia are countries with large populations, vast domestic markets and unique location advantages. Pakistan and China welcome Indonesian entrepreneurs to invest in CPEC and seek development opportunities.

 

H.E. Xiao Qian stated that Indonesia is continuously improving its friendly environment for investment, which has created abundant opportunities for China and Pakistan to increase business existence. “The trilateral cooperation between and among China, Pakistan and Indonesia has indeed great potential and a very bright prospects. We may exchange views on policy making and experience, deepen cooperation in areas such as regional connectivity, industrial parks, fighting against COVID-19 pandemic and public health, jointly optimize allocation of the resources in East Asia, South Asia and Southeast Asia, seek common development and benefit people in the region and beyond. ”

 

Reaffirmed that Pakistan and China enjoy a historical relationship and an unprecedented friendship which will grow stronger over the years, MOS/Chairman Board of Investment, Pakistan, H.E. Atif R. Bokhari underscorded that CPEC industrial corporation is inclusive in its scope and open to all countries. “The industrial corporation chapter is not limited to Pakistan and China. On the contrary, other countries, particularly our friends in Indonesia are most welcome to participate in this multilateral CPEC industrial cooperation.”

 

According to H.E. Atif R. Bokhari, Pakistani government has already launched preferential policies for electronic vehicles, mobile manufacturing, and construction sector as well as SEZ regulations to enhance the investment in Pakistan. Many foreign enterprises have already enjoyed the incentives and benefits being offered.

 

Mr. Ying Xiong, Director General, Office of the Leading Group for Promoting the BRI, NDRC, China, stated that the outstanding performance of CPEC during the epidemic has greatly boosted Pakistan's confidence in restoring its economy, vividly interpreted the connotation of China-Pakistan all-weather strategic cooperative partnership, and fully demonstrated the strong vitality of jointly building BRI.

 

“Indonesia is the co-founding country of BRI, and China welcomes Indonesia's participation in the construction of CPEC. Carrying out third-party cooperation under the Corridor will help to make full use of the tripartite market, mobilize tripartite resources, form complementary advantages, share development opportunities, and open up new ways to promote the regional economy. I believe that under the tripartite cooperation, corridor construction will usher in brighter prospects for development,” Mr. Ying Xiong added.

 

H.E Mr. Septian Hario Seto, Deputy Minister for Investment Coordination & Mining, Indonesia, said that CPEC has brought investment opportunities for the Indonesian companies. Pakistan is a great market for CPO product. Indonesia can build or invest in downstream industries of CPO product in Pakistan. He also recommended coal export from Pakistan.

 

Mr. Asim Ayub, Project Director of PMU-ICDP, BOI, explained that in the long-term plan, CPEC is identified as one core with four priorities. Industrial cooperation areas including textile, chemical & pharmaceutical, engineering goods, agro, iron & steel, light manufacturing & home appliances and construction materials. SEZ incentives include custom duty exemption on import of capital goods, income tax exemption for 10 years and infrastructure/utilities facilities. 9 CPEC SEZs are open to third country participation to join in as either as enterprise or developer. Pakistani government is fully committed to accelerate industrialization in the country for sustained economic prosperity.

 

Chairman KADIN, Indonesia, Mr. Rosan Perkasa Roeslani, emphasized that Indonesia benefits from BRI. BRI will eventually represent opportunity for operation access to new resources, markets, consumers and services. “In today’s globalized world, no country or nation can survive on its own, except to build up cooperation. Investment is critical, especially in infrastructure, which is the best way to prosper Indonesia and Pakistan.”