BEIJING: Chinese small and medium-sized enterprises (SMEs) have revolutionized the employment opportunities in Pakistan.
On Sunday, Cheng Xizhong, visiting Professor at Southwest University of Political Science and Law also a Senior Fellow of the Charhar Institute said, “the Pakistani government attaches great importance to the development of small and medium-sized enterprises, and I believe it is a correct decision.”
Moreover, Cheng further asserted about the business opportunities Prime Minister Imran Khan has provided in his tenure to Chinese firms in the last several years, which have contributed to the success of the market economy. Sharing his views he said that, the first prosperity of the market economy comes from fair competition. The trend of centralization and emergence of enterprises are basic two factors to promote growth in the national economy.
Secondly, he thinks, a large number of small and medium-sized enterprises distributed in various fields of the national economy is increasingly becoming an important factor of economic growth. According to Cheng, the third factor is SMEs mainly exist and develop in labor-intensive industries with less investment and flexible operation mode allowing low technical requirements for the labor force.
The fourth factor which contributes to the economy is SMEs are not only an important source for technological innovation but because of the flexible operating mechanism they contribute highly to innovation technology of new products with less time as compared to other economy building factors.
Meanwhile, the fifth factor is people who often play multiple roles in SMEs. They are not only the decision-makers and managers but also the participants in product research, development, and production. Therefore, small and medium-sized enterprises are the framework provider of cultivating entrepreneurs.