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Chinese Investment Hurting Key Local Industries and Local Businessmen


Chinese Investment Hurting Key Local Industries and Local Businessmen
Chinese companies are taking over major businesses in Pakistan’s export-led manufacturing sector, stated a report published by Hong Kong-based online news platform Asia Times.
The report said that while on one hand, rising Chinese investment is helping boost Pakistan’s ailing economy, on the other hand, the local businesses and groups are expressing concerns that the Chinese investors are cornering key local industries, state assets, and businesses to the detriment of Pakistani players and interests.
According to a report issued by the United Nations Conference on Trade and Development’s World Investment, foreign direct investment (FDI) in Pakistan increased from $1.7 billion in 2018 to $2.2 billion in 2019. The accumulated FDI for the year for Pakistan amounted to $34.8 billion with China being the biggest contributor. ....

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