MCC Tongsin Resources, a prominent Chinese research and investment company, has announced its intention to significantly enhance its investment in Pakistan’s mineral and mining sector. This development was revealed in a statement issued by Islamabad following a meeting between the Chairman of MCC Tongsin Resources, Wang Jicheng, and Prime Minister Shehbaz Sharif on Friday. The Ministry of Information and Broadcasting confirmed the details of this important engagement.
The Chinese company presented a comprehensive briefing to the prime minister on their plans, including the construction of a mineral park in Pakistan. Chairman Wang Jicheng elaborated on MCC Tongsin Resources’ strategy to further invest in the country’s rich mining sector, highlighting the potential for significant economic growth and increased exports.
Prime Minister Shahbaz Sharif warmly welcomed the Chinese delegation and expressed his enthusiasm for the proposed investments. He assured Wang Jicheng and his team of the Pakistani government’s full support and facilitation, emphasizing that the administration is prioritizing foreign investment to stimulate economic growth.
Prime Minister Shahbaz reiterated the government’s commitment to creating a conducive environment for foreign investors, particularly in the mining sector. He invited MCC Tongsin Resources to explore opportunities from the initial stages of mining to the production of export-ready goods. “The investment will be extended full facilitation for the extraction of minerals, their processing, and the export of their products to enhance the country’s exports,” the prime minister stated.
To ensure seamless cooperation and consultation, Prime Minister Shahbaz directed relevant federal ministers and officials to engage closely with MCC Tongsin Resources. He also instructed them to involve the Chief Minister of Balochistan and other provincial stakeholders in the discussions, recognizing the significant role Balochistan plays in Pakistan’s mining industry.
Prime Minister Shahbaz highlighted the long-standing and robust economic relationship between Pakistan and China. He praised China for its unwavering support during challenging times, noting that the entire nation is grateful for the Chinese leadership and people. This relationship has been significantly strengthened by the China-Pakistan Economic Corridor (CPEC), a multi-billion-dollar infrastructure initiative that has been pivotal in enhancing economic cooperation between the two nations.
Earlier, during the Fifth Round of the China-Pakistan Foreign Ministers’ Strategic Dialogue, both countries committed to deepening their collaboration under Beijing’s eight major steps to support high-quality Belt and Road cooperation. They also agreed to forge an “upgraded version” of the CPEC by jointly building a growth corridor, further solidifying their strategic partnership.
The proposed investments by MCC Tongsin Resources are expected to have a substantial impact on Pakistan’s economy. By boosting the mining sector, these investments will not only enhance the country’s export capabilities but also create numerous job opportunities, fostering economic development in regions like Balochistan. The construction of a mineral park, as part of the investment plan, is anticipated to attract further investments and technological advancements in the sector.
