Chinese scholar calls for joint ventures to implement CPEC’s projects
BEIJING, September 2 – Public and private-sector partnership (Joint ventures) could be an effective source to boost industrial development under the 2nd phase of CPEC.
There is also need of encouraging Academia-Industrial linkages to achieve the desired goals, this was stated by a Chinese scholar and senior fellow of Chongyang Institute for Financial Study of Renmin University of China Zhou Rong in an article published by Gwadar Pro on Wednesday.
Who is to play major roles in implementing CPEC’s projects. Will it be led continuously by the governments of the two countries or by the market. Will it be a compulsory joint venture by outside force or a natural voluntary joint venture?
These are big issues that have to be properly addressed for implementing the CPEC’s 2nd phase as per their spirit and agreed framework.
It is heartening to note that in July Faisalabad Industrial Estate Development and Management Company (FIEDMC), Punjab University (PU) and Institute of Quality and Technology Management (IQTM) signed a Memorandum of Understanding (MoU) to promote industrial development in the special economic zone (SEZs).
As reported, under the agreement, PU would set up a modern research center in the special economic zone with strong researcher team for R&D which the enterprises lack, while IQTM would provide training to the management of the industry that the university does not have any edged advantages.
indeed, Chinese entrepreneurs and Chinese engineers and technicians will definitely and actively participate in the seamless connection between Pakistan’s enterprises and universities.
Moreover, it can be seen that the combination of the management ability of the enterprise and the research and development ability of the university will produce tangible economic and social benefits, allowing the enterprise to obtain the source of intelligence, and giving the university the opportunity to exert its own advantages.
There is need to fully support the combination. It is hoped that the Pakistani government should have an accurate positioning in the future that CPEC with all the facilities provided for the trends.
It is must that the CPEC project would and should provide academia-industry linkage to promote economic as well as social activities in the region.
The article added: The CPEC is a flagship project of China’s Belt and Road Initiative (BRI). It involves construction of roads, rails, sea ports, oil and gas pipelines, optic fiber connectivity, special economic zones (SEZs), cross border trade and cooperation centers.
It also aims at negotiating preferential and fee trade agreements, besides the introduction of effective legal structure and system of courts to settle trade-related disputes between the countries along the BRI.
A coordinated China-Pakistan Master Plan for Gwadar depends heavily on Public Private Participation (PPP) for the promotion of industrial and commercial activities through private and international investment.
Government of Pakistan has announced special investment and tax incentives for Gwadar Special Economic Zone (SEZ). Hopefully, that policy will surely last long.
CPEC is a win-win project of China-Pakistan economic cooperation. Besides diversifying Chinese supply lines, it would prove to be a catalyst for the socio-economic development of Pakistanis.
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