Islamabad: President Dr Arif Alvi on Tuesday (October 4) invited international firms and businesses to invest in Pakistan’s Special Economic Zones (SEZs) developed under the China-Pakistan-Economic-Corridor (CPEC), news sources reported.
The president was addressing the 3rd Roundtable Conference titled, ‘Pakistan Paradise for Investment and CPEC-2030: Economic Revolution from Kashgar to Gwadar and Beyond’, at Aiwan-e-Sadr in Islamabad. He said that the government has developed business-friendly policies that offer special tax breaks, tax incentives and waiver on duties. All of these amenities have substantially improved Pakistan’s standing as a South Asian rising nation in terms of ease of doing business. He stated that the measures have already begun to pay rewards as more and more IT businesses establish operations in Pakistan.
Furthermore, he stated that the second phase of CPEC will usher in an industrial revolution in the country by offering better and more dedicated infrastructure for enterprises. He emphasised that labour and raw materials are inexpensive and plentiful in Pakistan, which is vital for large-scale manufacturing.
Furthermore, in a separate Senate briefing, Minister for Board of Investment (BOI) Chaudhry Salik Hussain stated that the government would soon begin the second phase of CPEC, in which major Chinese firms will relocate to SEZs in Pakistan. He stated that all SEZs’ infrastructure is being completed, with the majority of them having access to roads, power lines, and gas connections.
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.
