China has no objection to Saudi investment in CPEC: Ambassador

Published October 10, 2018
Chinese Ambassador to Pakistan, Yao Jing at the Quetta Press Club. —DawnNewsTV
Chinese Ambassador to Pakistan, Yao Jing at the Quetta Press Club. —DawnNewsTV

Chinese Ambassador to Pakistan Yao Jing on Wednesday said China had no objection to Saudi Arabia investing in the China-Pakistan Economic Corridor (CPEC).

"We welcome investment in CPEC," the ambassador told journalists at the Quetta Press Club.

Following Prime Minister Imran Khan's visit to Saudia Arabia last month, the government had announced that the kingdom has signed grant agreements with Pakistan to finance three road infrastructure and energy projects under CPEC.

The government, however, had clarified that Saudi Arabia would not be made part of the $50 billion CPEC framework and the kingdom’s proposed investments would fall under a separate bilateral arrangement.

“The framework between China and Pakistan is bilateral and Saudi Arabia is not entering that framework as a third-party investor, rather the base of CPEC will be broadened and its pace will be expedited,” Minister for Planning and Development Khusro Bakhtiar had said during a press conference.

Also read: Dealing with the Saudis

During his visit to Quetta, Ambassador Jing also addressed the Quetta Chamber of Commerce and Industry and met people from a broad cross-section of society.

Chinese Ambassador to Pakistan, Yao Jing briefing the media.

He stated that after the formation of the new government, CPEC had been reviewed and consensus had been developed over the inclusion of new projects.

"Both sides will keep working on the ongoing projects under CPEC and have them finished as scheduled," Jing said of the projects that are already underway.

"For the next stage of the project, we will focus on joint ventures and the social sector. We have also decided that more resources should be given to the western provinces," he revealed.

He expressed the desire to link the mega project to Central Asian states via Afghanistan. He said CPEC would open new vistas of development and prosperity in the region.

The Chinese Ambassador stated that CPEC had entered "a new era" and that jobs would be created for the people of Pakistan through its various projects. He said Balochistan offers numerous opportunities to investors in terms of agriculture, livestock, mines and minerals.

At the chamber of commerce, businessmen urged the Chinese ambassador to establish a Chinese consulate in Quetta to address their business needs. The ambassador promised the business community that their request would be discussed with Chinese higher ups.

Opinion

Editorial

Military option
Updated 21 Nov, 2024

Military option

While restoring peace is essential, addressing Balochistan’s socioeconomic deprivation is equally important.
HIV/AIDS disaster
21 Nov, 2024

HIV/AIDS disaster

A TORTUROUS sense of déjà vu is attached to the latest health fiasco at Multan’s Nishtar Hospital. The largest...
Dubious pardon
21 Nov, 2024

Dubious pardon

IT is disturbing how a crime as grave as custodial death has culminated in an out-of-court ‘settlement’. The...
Islamabad protest
Updated 20 Nov, 2024

Islamabad protest

As Nov 24 draws nearer, both the PTI and the Islamabad administration must remain wary and keep within the limits of reason and the law.
PIA uncertainty
20 Nov, 2024

PIA uncertainty

THE failed attempt to privatise the national flag carrier late last month has led to a fierce debate around the...
T20 disappointment
20 Nov, 2024

T20 disappointment

AFTER experiencing the historic high of the One-day International series triumph against Australia, Pakistan came...