Thursday , May 25 2017

SBI and Pak-China Real Estate Association (PCREA) signs MOU

Karachi: Sindh Board of investment (SBI) held China-Pakistan Enterprises Cooperation Business Development and Networking Conference, at PC hotel in Karachi on Wednesday. During the conference, the memorandum of understanding to establish the Pak- China Real Estate Association (PCREA) was also signed. The objective of this event was to provide a platform to Chinese and Pakistani businesses to discuss and explore potential partnership and investment opportunities in Sindh.  The visiting Chinese delegation represented fifteen business sectors, including real estate, technology, engineering and Chinese medicine.

Research and Development International, Chinese Academy of Social Sciences (CASS-RDI) has worked extensively on the development of the ‘One Belt and One Road’ Initiative and Sindh government supported its efforts. CPEC a part of China’s One Belt One Road global initiative has provided a golden opportunity for Pakistan to take off as a regional economic power. Pakistan has been unable to grow as fast as its neighbors in South Asia, on account of poor infrastructure which is straining under demands of a large population growing at higher than world’s average, said a statement on Wednesday.

Chinese lending via CPEC for infrastructure and energy projects will bridge infrastructure development gaps in Pakistan. The Industrial Phase of CPEC in Pakistan is now beginning and Govt.of Sindh is actively working on the development of industrial parks and Special Economic Zones in the province. Research and Development International, Chinese Academy of Social Sciences (CASS-RDI) had worked extensively on the development of the “One Belt and One Road” Initiative and Govt.of Sindh is supporting its efforts in bringing Chinese businesses to engage with Pakistani businesses to set up industries in the province.

Speakers at the event were, Senator Saleem Mandviwala, Naheed Memon, Chairperson SBI, Government of Sindh, Dr. Baige Zhao, Chair of the Advisory Committee of CASS-RDI while Co-Chair, Pakistan China Institute delivered the concluding address. To further strengthen relations between the two countries, a Memorandum of Understating to establish Pak- China Real Estate Association (PCREA) was also signed.

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