Islamabad: Federal Minister for Planning & Development Asad Umar stated on Wednesday (December 29) that the government has established new regulations and simplified procedures to facilitate foreign investment in Special Economic Zones (SEZs) planned under the China Pakistan Economic Corridor (CPEC), according to news reports. The strategy will benefit not just Chinese businesses, but all international enterprises interested in the CPEC.
Speaking at a Chinese Embassy event, he stated that the federal and provincial governments have formed a collaborative system to simplify investment procedures and provide investors with appropriate facilities. He stated that CPEC is now entering its second phase of growth, with a greater emphasis on the development of agricultural and science and technology industries. Moreover, he added that the CPEC North Zone is 35 times larger than the South Zone, demonstrating Pakistan’s commitment to the success and future of CPEC.
It is worth noting that Pakistan and China have just begun Phase-II of the CPEC project, which is seen as a more advanced step toward mutual development and trust in the project’s scope.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
