Pakistan and China are expediting the implementation of investment memorandums of understanding valued at over $20 billion, with authorities establishing robust follow-up mechanisms to transform these commitments into tangible economic activity. The progress review follows high-level bilateral engagements, including the Pakistan-China Business-to-Business Investment Conference in Hangzhou, which marked one of Pakistan’s largest international investment engagements to date.
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Finance Minister Muhammad Aurangzeb met with Pakistan’s Ambassador to China Khalil Hashmi to discuss the growing economic cooperation, emphasizing that transforming investment promises into actionable plans remains a top priority for the government. Ambassador Hashmi confirmed that nine new agreements have been finalized in the pharmaceutical and biotechnology sectors, while more than 150 Chinese companies are actively being engaged through the embassy’s investment facilitation platform.
A dedicated monitoring mechanism has been established to track progress on investment commitments, ensuring effective coordination between stakeholders across multiple sectors. The Board of Investment’s Project Management Unit for CPEC Industrial Cooperation is serving as the lead implementation arm, coordinating with China’s National Development and Reform Commission to advance Special Economic Zones and industrial collaboration under the CPEC 2.0 framework.
Prime Minister Shehbaz Sharif has directed that the MoUs be swiftly converted into formal agreements and joint ventures, with the prime minister personally chairing monthly review meetings to monitor progress. The agreements span critical sectors including battery energy storage systems, artificial intelligence, mobile devices, fertilizers, modern irrigation, fisheries, food processing, and vaccine manufacturing. Officials confirmed that approximately 30 percent of the MoUs have already been converted into operational agreements, reflecting the growing depth of bilateral economic partnership.
