Rising China and the burgeoning industrial cooperation

0
620

China’s strength as the factory of the world and the key driver of global economic growth is visible as the world enters 2021 with new hope to combat the pandemic challenge through vaccine and bring growth and prosperity.In a country where per capita income has considerably increased and the New Year speech of President Xi echoed these sentiments when he said: “In 2020, China made the historic achievement of establishing a moderately prosperous society in all respects and achieved decisive success in eradicating extreme poverty”. In the post pandemic time, China has also taken the lead in achieving an economic regrowth with the World Bank and IMF forecasting GDP growth by 7.9 percent in 2021.
According to the new 5-year plan starting in 2021, China will be able to eradicate extreme poverty, accelerate technology and high-quality growth, invest sizable share of its GDP on culture and sports development and encourage Chinese companies to internationalize and pursue global expansion. Most interestingly, experts believe that by 2030 (the planned completion time of CPEC projects), China will have 6G around 1000 times the speed which is available today and with that level of connectivity and high-speed transportation across all modes through which China will be able to replenish goods, works and services with far more sustainable speed and unprecedented scale.
The main sectors and industries benefiting this economic transformation include high-speed railways, electric and hybrid cars, renewable energy generation, movie Production, online gaming, high-end Communication, quantum computing, 5G revolutions in agriculture, high-end logistics and transaction services, healthcare, traditional Chinese medicine, biomedical, telecommunications, energy, robotics, digitalization, Renewable Electricity Producers and several more avenues.
According to World Bank’s report, China’s next transformation is well under way, and a “New Economy” is emerging, all set to make global impact through innovations and economic initiatives leveraging its demographic and economic diversity. China’s GDP is $14.3 trillion and these numbers in them self gives us a reason to promote trade and Industrial linkages with China through CPEC or any opportunity that exists outside the great initiative as the important phase leading to 2030 is likely to be transformational for the industrial Growth, development of Gwadar, regional trade, industrial and investment landscape in Pakistan.
Through CPEC development, it is also expected that by 2025 processing and manufacturing industries will be developed including setting up of the priority SEZs and by 2030, ML-1 close to being fully operational and the endogenous mechanism for sustainable economic growth will be in place.
While there is a high level of misunderstanding and lack of knowledge of China in the West there is some dearth in our understanding of how China is growing and will shape up by 2030 and why we need to attract Chinese FDI fast and increase level of business-to-business interaction especially in the areas of e-commerce, technology, real estate, hospitality, health care, low-cost housing, media & entertainment and telecommunications. For that to happen and for us to address the challenges and harnessing the opportunities and set the future directions to attract FDI, it requires a new industrial and investment development path that promotes complementarity, consistency and high level of coordination at all levels. This path is not going to be easy considering the hard work and dedication like China where the entire generation exhibited in their pursuit to prosperity. Therefore, we need to open our imagination and interact with Chinese business community, academia and Government officials and discuss possibilities for Pakistan’s industrial development in the Chinese growth.
The recovery of global FDI will probably start to happen by end of 2021 opening opportunities for investment and development and giving us time to prepare suitable investment promotion strategy charting a sustainable path to attract multinationals which may look to diversify and relocate to mitigate. We therefore need to address the challenges and harnessing the opportunities that are likely to arise from the future directions of global FDI through novelty in our investment strategy to attract Chinese and other investment.
As a stepping stone our standing of EODB has witnessed improvement and the Government including provincial governments is crafting policies favorable to market transactions, to attract foreign direct investment, protecting property rights to encourage entrepreneurship and promoting sustainable knowledge investment. Following the same, Government of Khyber Pakhtunkhwa has recently approved its “Industrial Policy 2020” and Trade & Commerce Strategy, which will pave the path for sustainable industrialization in Rashakai SEZ and other areas and will generate economic activity. These policies and strategies make an attempt to prioritize and incentivize trade and investment in industrial sectors and create a “Pull Factor” for investors to form joint ventures with local investors, invest in utilizing indigenous natural resources, bring new technology, invest export-oriented industries, and add value to local products.
In order to accrue desired outcome fast, the Industrial cooperation under CPEC needs to remain consistent and in line with national agenda of economic growth, employment generation, regional connectivity and rapid industry and trade development leading to more sustainable investment in the green and blue economy. The Special Economic Zones (SEZs) and its development activity corridors are essential elements of the logistics system. Therefore, in these crucial times, we also need to expedite the push for improving business environment in an effort to spur economic development and for this, we need to target specific sectors with improving efficiencies, establish one window (at Federal and Provincial BoIs) and promote market competition by crafting attractive policies that are flexible for any novel business venture through a government-industry dialogue as complicated institutional arrangement is often interpreted as commercial risk.
Secondly, accelerate country’s efforts to strengthen our human capital to prepare them for supporting the labour seeking investment by increasing annual per capita expenditure on education and vocational training to address the CPEC Project and its industrial cooperation. Empirical data shows that when China started its path to attract foreign direct investment under the leadership of visionary Deng Xiaoping the main factor was the low wage yet efficient labor.
Thirdly, bring an unambiguous regulatory framework through investment law. Fourthly, start a 5-year agricultural cooperation action plan with China involving provinces. Fifthly, conduct joint road shows in China and at trade capitals and lastly, accelerate an innovation and research drive by developing China-Pakistan academia linkages and perhaps going the Deng’s way when he said in his speech, “Emancipate the mind, seek truth from fact, and unite as one to face the future.”

xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonfutebol ao vivofutemaxmulticanaisonbetbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi bong da the gioitin bong da lutrận đấu hôm nayviệt nam bóng đátin nong bong daBóng đá nữthể thao 7m24h bóng đábóng đá hôm naythe thao ngoai hang anhtin nhanh bóng đáphòng thay đồ bóng đábóng đá phủikèo nhà cái onbetbóng đá lu 2thông tin phòng thay đồthe thao vuaapp đánh lô đềdudoanxosoxổ số giải đặc biệthôm nay xổ sốkèo đẹp hôm nayketquaxosokq xskqxsmnsoi cầu ba miềnsoi cau thong kesxkt hôm naythế giới xổ sốxổ số 24hxo.soxoso3mienxo so ba mienxoso dac bietxosodientoanxổ số dự đoánvé số chiều xổxoso ket quaxosokienthietxoso kq hôm nayxoso ktxổ số megaxổ số mới nhất hôm nayxoso truc tiepxoso ViệtSX3MIENxs dự đoánxs mien bac hom nayxs miên namxsmientrungxsmn thu 7con số may mắn hôm nayKQXS 3 miền Bắc Trung Nam Nhanhdự đoán xổ số 3 miềndò vé sốdu doan xo so hom nayket qua xo xoket qua xo so.vntrúng thưởng xo sokq xoso trực tiếpket qua xskqxs 247số miền nams0x0 mienbacxosobamien hôm naysố đẹp hôm naysố đẹp trực tuyếnnuôi số đẹpxo so hom quaxoso ketquaxstruc tiep hom nayxổ số kiến thiết trực tiếpxổ số kq hôm nayso xo kq trực tuyenkết quả xổ số miền bắc trực tiếpxo so miền namxổ số miền nam trực tiếptrực tiếp xổ số hôm nayket wa xsKQ XOSOxoso onlinexo so truc tiep hom nayxsttso mien bac trong ngàyKQXS3Msố so mien bacdu doan xo so onlinedu doan cau loxổ số kenokqxs vnKQXOSOKQXS hôm naytrực tiếp kết quả xổ số ba miềncap lo dep nhat hom naysoi cầu chuẩn hôm nayso ket qua xo soXem kết quả xổ số nhanh nhấtSX3MIENXSMB chủ nhậtKQXSMNkết quả mở giải trực tuyếnGiờ vàng chốt số OnlineĐánh Đề Con Gìdò số miền namdò vé số hôm nayso mo so debach thủ lô đẹp nhất hôm naycầu đề hôm naykết quả xổ số kiến thiết toàn quốccau dep 88xsmb rong bach kimket qua xs 2023dự đoán xổ số hàng ngàyBạch thủ đề miền BắcSoi Cầu MB thần tàisoi cau vip 247soi cầu tốtsoi cầu miễn phísoi cau mb vipxsmb hom nayxs vietlottxsmn hôm naycầu lô đẹpthống kê lô kép xổ số miền Bắcquay thử xsmnxổ số thần tàiQuay thử XSMTxổ số chiều nayxo so mien nam hom nayweb đánh lô đề trực tuyến uy tínKQXS hôm nayxsmb ngày hôm nayXSMT chủ nhậtxổ số Power 6/55KQXS A trúng roycao thủ chốt sốbảng xổ số đặc biệtsoi cầu 247 vipsoi cầu wap 666Soi cầu miễn phí 888 VIPSoi Cau Chuan MBđộc thủ desố miền bắcthần tài cho sốKết quả xổ số thần tàiXem trực tiếp xổ sốXIN SỐ THẦN TÀI THỔ ĐỊACầu lô số đẹplô đẹp vip 24hsoi cầu miễn phí 888xổ số kiến thiết chiều nayXSMN thứ 7 hàng tuầnKết quả Xổ số Hồ Chí Minhnhà cái xổ số Việt NamXổ Số Đại PhátXổ số mới nhất Hôm Nayso xo mb hom nayxxmb88quay thu mbXo so Minh ChinhXS Minh Ngọc trực tiếp hôm nayXSMN 88XSTDxs than taixổ số UY TIN NHẤTxs vietlott 88SOI CẦU SIÊU CHUẨNSoiCauVietlô đẹp hôm nay vipket qua so xo hom naykqxsmb 30 ngàydự đoán xổ số 3 miềnSoi cầu 3 càng chuẩn xácbạch thủ lônuoi lo chuanbắt lô chuẩn theo ngàykq xo-solô 3 càngnuôi lô đề siêu vipcầu Lô Xiên XSMBđề về bao nhiêuSoi cầu x3xổ số kiến thiết ngày hôm nayquay thử xsmttruc tiep kết quả sxmntrực tiếp miền bắckết quả xổ số chấm vnbảng xs đặc biệt năm 2023soi cau xsmbxổ số hà nội hôm naysxmtxsmt hôm nayxs truc tiep mbketqua xo so onlinekqxs onlinexo số hôm nayXS3MTin xs hôm nayxsmn thu2XSMN hom nayxổ số miền bắc trực tiếp hôm naySO XOxsmbsxmn hôm nay188betlink188 xo sosoi cầu vip 88lô tô việtsoi lô việtXS247xs ba miềnchốt lô đẹp nhất hôm naychốt số xsmbCHƠI LÔ TÔsoi cau mn hom naychốt lô chuẩndu doan sxmtdự đoán xổ số onlinerồng bạch kim chốt 3 càng miễn phí hôm naythống kê lô gan miền bắcdàn đề lôCầu Kèo Đặc Biệtchốt cầu may mắnkết quả xổ số miền bắc hômSoi cầu vàng 777thẻ bài onlinedu doan mn 888soi cầu miền nam vipsoi cầu mt vipdàn de hôm nay7 cao thủ chốt sốsoi cau mien phi 7777 cao thủ chốt số nức tiếng3 càng miền bắcrồng bạch kim 777dàn de bất bạion newsddxsmn188betw88w88789bettf88sin88suvipsunwintf88five8812betsv88vn88Top 10 nhà cái uy tínsky88iwinlucky88nhacaisin88oxbetm88vn88w88789betiwinf8betrio66rio66lucky88oxbetvn88188bet789betMay-88five88one88sin88bk88xbetoxbetMU88188BETSV88RIO66ONBET88188betM88M88SV88Jun-68Jun-88one88iwinv9betw388OXBETw388w388onbetonbetonbetonbet88onbet88onbet88onbet88onbetonbetonbetonbetqh88mu88Nhà cái uy tínpog79vp777vp777vipbetvipbetuk88uk88typhu88typhu88tk88tk88sm66sm66me88me888live8live8livesm66me88win798livesm66me88win79pog79pog79vp777vp777uk88uk88tk88tk88luck8luck8kingbet86kingbet86k188k188hr99hr99123b8xbetvnvipbetsv66zbettaisunwin-vntyphu88vn138vwinvwinvi68ee881xbetrio66zbetvn138i9betvipfi88clubcf68onbet88ee88typhu88onbetonbetkhuyenmai12bet-moblie12betmoblietaimienphi247vi68clupcf68clupvipbeti9betqh88onb123onbefsoi cầunổ hũbắn cáđá gàđá gàgame bàicasinosoi cầuxóc đĩagame bàigiải mã giấc mơbầu cuaslot gamecasinonổ hủdàn đềBắn cácasinodàn đềnổ hũtài xỉuslot gamecasinobắn cáđá gàgame bàithể thaogame bàisoi cầukqsssoi cầucờ tướngbắn cágame bàixóc đĩaAG百家乐AG百家乐AG真人AG真人爱游戏华体会华体会im体育kok体育开云体育开云体育开云体育乐鱼体育乐鱼体育欧宝体育ob体育亚博体育亚博体育亚博体育亚博体育亚博体育亚博体育开云体育开云体育棋牌棋牌沙巴体育买球平台新葡京娱乐开云体育mu88qh88