China to relocate export oriented industry in SEZs under CPEC

Islamabad: The Chinese companies have showed keen interest to relocate their industry in Special Economic Zones (SEZs) under the China Pakistan Economic Corridor (CPEC) that would help boosting Pakistan’s export in coming years besides creating thousands of new jobs for locals.

The main sectors in which the Chinese companies are going to establish their industries in Pakistan include textile, footwear, pharmaceutical and IT sectors, official sources in CPEC Authority said.

The sources said that recent visit of Prime Minister Imran Khan to China would help further expediting the pace of work on CPEC projects in the country.

According to the sources, the Chinese are also going to establish a metal and paper recycling project in Gwadar for the purpose of export.

Similarly, another company would establish Special Economic Zone on Lahore-Kasur road where industries related to cotton and dairy sectors would be established.

Further Pakistan would train the youth in the field of artificial intelligence in Information Sector (IT) sector as there is the biggest opportunity in this sector to fetch huge foreign exchange reserves.

Meanwhile a Chinese textile industry constructed near Lahore has exported its produce worth of US$ 60 million, while as many as 2000 Pakistanis are working in the industry in one shift.

As a result of more Chinese investments in the country thousands of new jobs would be created in different sectors of Pakistan.

In order to make Dhabeji and Allama Iqbal Industrial City, Faisalabad SEZs more lucrative for foreign investment, the government is providing more and more incentives to the investors, the sources added.