ISLAMABAD – China has decided to invest in Pakistan in the electric vehicles (EVs) manufacturing and agriculture sector to enhance the economic activities in the local market. The investment in both sectors will create growth and new employment opportunities in these sectors, the senior official of Board of Investment told APP here on Thursday. He said that Optima Integration Group of China has joined hands with Asia Pak Investments of Pakistan to invest $50 million in the first phase to develop agriculture, power and logistics sectors in Gwadar and Karachi.
He said that in a recent agreement, the Board of Investment (BoI) has facilitated the signing of a memorandum of understanding (MoU) between the two companies in this regard, which would create more than 100 jobs in Gwadar and Karachi, besides establishment of a high-tech processing facility along with technology transfer.
The senior official said that under the MoU, the two groups would set up an end-to-end supply chain for seafood, adding that 79 species of fish are approved by the General Administration of Customs of the People’s Republic of China for export from Pakistan to China.
He said that in the long run, the project would expand from fish to beef and goat – starting off with exporting beef with cold chain transport, then scaling with Chinese standard breeding, feedlot operations, vaccinations, and track and trace technology, and slaughter and pack facilities in Karachi.
Replying to a question, he said that...
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