The Khyber-Pakhtunkhwa (KP) government just signed 11 Memorandam of Understanding (MoU) with Chinese firms for the completing of numerous projects in development in the province. These MoUs fall under the China-Pakistan Economic Corridor (CPEC) framework and will see to lots of development in this province.
Among the areas to be handled by these agreements are e-commerce, infrastructure, oil refinery, power plants, special economic zones, information technology and many others. These are the main building blocks of any modern economy meaning a lot will come out of the agreements in terms of development and progress.
The KP Chief Minister, Parvez Khattak, made it clear to the Chinese firms that there were many opportunities to be exploited for mutual benefits. With the MoUs, the province will benefit from the technology and the capabilities owing to their expertise. The Chief Minister stated that his time in power has attracted many investment opportunities owing to be creation of an economy that favors growth.
With the reforms from his time in power, many investors are finding the province to be highly attractive and strategic in their investment plans. The region has also been said to be very well situated geographically making investments in the area very responsive.
On his part, China-Pakistan Friendship Association President Sha Zhu Kang stated that such relations between government agencies and investors work well for the common citizen as was seen in the Road Initiative and One Belt both of which had great benefits.
The relationship between the investors and the Khyber-Pakhtunkhwa (KP) government will benefit not just the province but both China and Pakistan. Also, the world and the region will immensely benefit from the efforts of the Pakistani and Chinese governments and private investors. The MoUs couldn’t have come at a better time as rapid growth is needed to ensure sustainable economic development in Pakistan.