A structured follow-up mechanism is actively being implemented to convert more than 160 multi-billion-dollar Memoranda of Understanding and joint ventures, signed with Chinese enterprises in 2025, into tangible industrial activity.
It was revealed during a high-level progress review of the China-Pakistan Economic Corridor (CPEC) Phase-II, according to official information today.
Federal Minister for Board of Investment, Qaiser Ahmed Sheikh, was apprised of the latest developments during an official visit to the Project Management Unit of the CPEC Industrial Cooperation Development Project (PMU CPEC-ICDP) in the capital on Friday. The meeting centred on industrial collaboration and the advancement of Special Economic Zones (SEZs) under the upgraded CPEC framework.
The minister received a comprehensive presentation on Pakistan”s engagement with China, with a specific focus on SEZ-led industrialisation and business-to-business (B2B) partnerships. The briefing was attended by senior officials, including Additional Secretary BOI Dr. Erfa Iqbal and Director General PMU CPEC-ICDP Mr. Mehmood Tufail.
Officials detailed the coordinating role of the PMU CPEC-ICDP, which functions as the Board of Investment”s (BOI) dedicated implementation arm for CPEC industrial cooperation. The BOI is the lead Pakistani agency for the Joint Working Group on the matter, liaising with China’s National Development and Reform Commission (NDRC).
Since its establishment in 2019, the PMU has been central to revitalising Pakistan’s SEZ framework, with coordinated efforts contributing to a significant expansion in approved zones from 7 to 44. This includes the formal notification of 37 new SEZs.
Key achievements outlined included progress on the Karachi Industrial Park (KIP), development initiatives for the Gilgit-Baltistan SEZ, and the resolution of a major investor bottleneck through the approval of a Land Lease Policy for the Bin Qasim Industrial Park (BQIP). The minister was also informed of the BOI”s work in facilitating utility provision to transition SEZs from planning to operational stages.
The investment agreements under review stem from the Pakistan-China B2B Investment Conference held during Prime Minister Muhammad Shehbaz Sharif’s visit to China in September 2025, which was described as Pakistan’s largest international investment engagement of its kind.
The briefing confirmed that the Long-Term Plan for CPEC Industrial Cooperation has been finalised. It is being executed through a structured Action Plan aligned with the CPEC 2.0 vision, which prioritises industry-led growth, export-oriented manufacturing, and technology transfer. This strategy is also aligned with the government”s “Uraan Pakistan” 5Es Framework to advance exports and economic development.
It was noted that 2026 marks the 75th anniversary of diplomatic ties between Pakistan and China, with the PMU CPEC-ICDP planning a series of commemorative and investment-focused events throughout the year to deepen bilateral industrial collaboration.
Concluding the review, Minister Sheikh stressed that continuity and institutional capacity were essential for maintaining momentum. He asserted that a coordinated, long-term approach would be critical for the effective implementation of CPEC Phase-II and for delivering on bilateral commitments.
The Board of Investment reaffirmed its commitment to proactive investor facilitation and policy coordination to ensure a predictable and transparent environment for all investors.