Pakistan ranks top 10 in improvement of business environment: Report

The Nation  |  Jul 26, 2021

BEIJING - The annual report on Investment Security of China’s Belt and Road Construction (2021) was jointly released by China Belt and Road Think Tank Cooperation Alliance, Beijing International Studies University, and other institutions.

The report puts forward the fruits of researches on the political, economic, social, cultural, and ecological investment security in countries along the Belt and Road Initiative (BRI).

According to the report, Pakistan has reformed to simplify the process of starting a company and obtaining a construction permit, implementing a series of preferential policies in recent years.

These measures improved its ability to attract foreign investment and strengthened the ease of doing business year by year, making Pakistan one of the world’s top 10 economies with the most improved business environment, China Economic Net (CEN) reported. 

In terms of political security, the report said that South Asia as a whole is greatly affected by the superpower game. China, the United States, Russia, Japan, and other countries outside the region have historical ties and practical cooperation here, which makes the geopolitical environment of South Asia complicated.

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The long-running conflict between India and Pakistan has also intensified pressures on political security in the region, under which the dispute over Kashmir poses a long-standing risk of war.

From the perspective of economic security, Pakistan’s economic security scores up by 220 percent in 2019 compared to 2010, showing an overall trend of growth. The construction of the China-Pakistan Economic Corridor (CPEC) has greatly boosted public confidence, stimulated domestic demand, and driven production.

However, it is worth noting that since 2019, the accelerated marketisation of the domestic exchange rate in Pakistan has led to market fluctuations, currency devaluation, sustained inflation, forcing the government to raise the benchmark interest rate. Besides, the debt burden increased and the international sovereign rating lowered.

As per social security, Pakistan’s social security is rated at a middle and low level. Constant terrorist attacks in Pakistan have led to social unrest. Violent clashes can halt projects, cause losses and even threaten the safety of workers from the investing countries, undermining the confidence of foreign investors.

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China’s road cargo

transport expands in

first half of 2021

China’s road cargo transport registered solid growth in the first half of this year, official data shows.

The road freight volume amounted to approximately 18.48 billion tonnes in the January-June period, up 29 per cent year on year, according to data from the Ministry of Transport.

The central province of Hubei saw the fastest growth in the period, with a growth rate of 204.9 per cent.

In the first six months, fixed-asset investment in road construction reached 1.15 trillion yuan (about 177.9 billion U.S. dollars), up 13.8 per cent year on year, according to the ministry.

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sci-tech innovation IPOs

China’s securities regulator has approved the initial public offerings (IPOs) of two companies on the science and technology innovation board.

Kunshan GuoLi Electronic Technology Co., Ltd. and Wayz Intelligent Manufacturing Technology Co., Ltd. will be listed on the Shanghai Stock Exchange’s sci-tech innovation board, commonly known as the STAR market, according to the China Securities Regulatory Commission.

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The companies and their underwriters will confirm the dates of the IPO and publish prospectuses following discussions with the stock exchange.

The STAR market inaugurated in June 2019 and designed to support companies in the high-tech and strategic emerging sectors, has eased its listing criteria but adopted higher requirements for information disclosure.

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