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PM Shehbaz says the government is taking initiatives to make it easier for investors.

As a delegation of China North Industries Corporation (NORINCO) met on Prime Minister Shehbaz Sharif in Islamabad on Thursday, he stated that strengthening China-Pakistan economic cooperation was important to Pakistan"s socioeconomic development.

The prime minister emphasised that Pakistan was open to investments and that his government was removing all hurdles to further benefit investors. He asked Chinese firms to engage in sustainable power in Pakistan, which had huge potential, notably in solar energy production.

The premier emphasised the importance of the China-Pakistan Economic Corridor (CPEC), calling it a revolutionary project for both nations" mutual prosperity and development.

Mr Wang Xiaobing, vice-president of NORINCO International, and Mr Li Chen, CEO of NORINCO International (Pakistan), headed the delegation. Federal ministers Khawaja Saad Rafique, Syed Naveed Qamar, Chauhdary Salik Hussain, advisor to the Prime Minister Ahad Cheema, SAPMs Syed Tariq Fatemi, Mohammad Jahanzeb Khan, Zafar-Ud-Din Mahmood, and others were also present.

The PM also praised the business for its contribution in the Lahore Orange Line Metro Train program, which he said helped hundreds of thousands of commuters every day. He noted that the initiative was the first to use open bidding in a government-to-government transaction.

The PM went on to say that the approach permitted further discussions with the cheapest bidder, saving the govt 600 million dollars - a watershed moment in Pakistan"s development history.

The group lauded Prime Minister Shehbaz for his tireless efforts to guide Pakistan out of its current economic turmoil. The prime minister "is a good friend of China whom business-friendly policies have increased economic relations and promoted foreign direct investment in the country," according to the statement.

The NORINCO team expressed strong interest in investing in a wide range of renewable energy in Pakistan, particularly in the Thatta wind corridor, where a 100 megawatts wind power project was proposed. They also talked about investments in optic fibre along railway tracks, copper and iron ore mining from known deposits, and infrastructure development in the country"s major cities.

Prime Minister Shehbaz praised Chinese President Xi Jinping and H.E. Premier Li Keqiang for their persistent and steadfast support for Pakistan, especially considering the country"s economic circumstances.