Federal Minister Qaiser Sheikh Outlines Vision for CPEC 2.0 at Islamabad Dialogue
Federal Minister for Board of Investment Qaiser Ahmed Sheikh delivered a keynote address at a high-level policy dialogue titled “Strengthening Governance and Implementation Strategies for CPEC 2.0,” held at the Institute of Regional Studies in Islamabad. The event gathered policymakers, diplomats, and experts to discuss the future direction of the China-Pakistan Economic Corridor in its second phase, with a strong focus on enhancing governance, ensuring effective implementation, and speeding up project delivery.
Opening Remarks and Distinguished Participants
The session began with opening remarks by President of the Institute of Regional Studies, Jauhar Saleem, who welcomed participants and stressed the importance of ongoing policy dialogue in shaping CPEC's next phase. Notable attendees included Shi Yuanqiang, Deputy Head of Mission at the Embassy of China, and Ambassador Masood Khan, both of whom highlighted the strategic significance of Pakistan-China relations and CPEC's role in fostering regional connectivity and economic cooperation.
Minister Sheikh's Keynote Address
In his keynote, Minister Sheikh thanked the organizers for the opportunity to speak on this critical topic. Reflecting on his long-standing ties with China, dating back to the 1970s, he noted China's remarkable focus on human development and technical skill enhancement. He emphasized that China's combination of education and vocational training has been pivotal in lifting millions out of poverty and transforming its economy, urging Pakistan to learn from this model in areas like human capital development, skill-building, and industrial growth.
Government Priorities and CPEC 2.0 Framework
The minister highlighted that under Prime Minister Shehbaz Sharif's leadership, the Pakistani government is prioritizing economic reforms, investment facilitation, and industrial growth, with CPEC 2.0 as a central pillar for sustainable economic development and regional connectivity. Drawing from his business background, he observed that China's consistent emphasis on value-added manufacturing has driven its economic success, and Pakistan must address its trade imbalance by shifting towards value-added products and industrial diversification to boost global competitiveness.
Transition to Business-to-Business Model
Minister Sheikh explained that CPEC 2.0 marks a significant shift from a government-to-government framework to a more dynamic business-to-business model. This second phase focuses on industrialization, energy cooperation, capacity building, and increased private sector participation. He underscored the Board of Investment Pakistan's pivotal role in facilitating this transition through regulatory reforms, deregulation measures, and initiatives to improve the ease of doing business in Pakistan.
Role of Special Economic Zones
He further elaborated on the importance of Special Economic Zones as engines of economic growth, noting that projects like Bin Qasim Industrial Park are expected to attract foreign direct investment, promote technology transfer, generate employment, and strengthen Pakistan's industrial base. These zones are seen as critical to achieving the objectives of CPEC 2.0.
Reaffirming Pakistan-China Relations
Reaffirming Pakistan's strong and time-tested relationship with China, the minister remarked that China has consistently pursued peaceful development and constructive engagement. From his business experience, he noted China's prioritization of dialogue and cooperation in international dealings. He added that CPEC is not just a bilateral initiative but a broader regional development project that has already created jobs and holds immense potential for future economic integration.
Reports and Conclusion
During the event, the Institute of Regional Studies presented two comprehensive reports on CPEC 2.0, focusing on governance reforms, implementation strategies, institutional capacity building, and the transition to a business-to-business model. The Chinese representative also emphasized CPEC 2.0's importance for China, particularly in advancing energy generation and industrial development cooperation.
In conclusion, Minister Sheikh reiterated the Board of Investment's full commitment to promoting investment, advancing industrialization, and strengthening Pakistan-China economic cooperation under CPEC 2.0. He stressed that effective governance, policy continuity, and strong institutional coordination are essential to fully realize the transformative potential of CPEC 2.0.
