Islamabad: China Pakistan Economic Corridor (CPEC) Chairman Asim Bajwa on Thursday informed that the work on four Special Economic Zones (SEZs) out of nine has been expedited, according to news sources. Total 37 SEZs were planned under CPEC and only nine were prioritized.
Pakistan High Commission and Embassy of China organized a webinar on ‘Investment Opportunities in CPEC related Special Economic Zones (SEZs). During a webinar, Mr. Bajwa stated that the launching of the Gwadar free zone last week was a significant milestone. He also said that 2,220 acres of land had been set aside for development projects.
Moreover, the Director General of National Development and Reform Commission Ying Xiong emphasised the significance of a high demonstration project for the area, particularly for bilateral ties between the two countries.
High Commissioner Rukhsana Afzaal provided data on the profits generated by energy and infrastructure initiatives that improved connectivity throughout Asia, Europe, and Africa.
Furthermore, the government is promoting foreign investment in SEZs. The biotechnology SEZs are anticipated to produce USD 1.3 billion in export revenue. Furthermore, the government is aiming to establish SEZs to enhance biotechnology and chemical research.
Rashakai SEZ, located near M-1 Nowshera in Khyber Pakhtunkhwa (KP), has also been launched. The 1,000-acre of land will be developed in three phases. The total area for Industrial use is 702 acres while 76 acres are for commercial use.
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