Islamabad: China Pakistan Economic Corridor (CPEC) is a game-changer under which investment in the country is expected to rise to USD 100 billion, according to a news report. Foreign investment will also contribute towards the establishment of industries as the country is expected to see rapid industrial development.
To protect local industries, industries set up under CPEC should have significant participation and shares of local companies and institutions. According to CPEC Secretariat, Special Economic Zones formed under CPEC will have special tax and duty incentives and exemptions which will encourage foreign direct investment.
Other measures include consistent steps to bring Pakistani, Chinese and foreign companies on equal footing and steps taken to provide tax exemption on raw materials and machinery for the setting up of industries.
