CPEC’s SEZs crucial to attracting FDI: Pakistani Minister
Islamabad: Rana Tanveer Hussain, Pakistani Minister for Industries and Production, has emphasized the crucial role of China-Pakistan Economic Corridor (CPEC)’s Special Economic Zones (SEZs) in attracting Foreign Direct Investment (FDI) and promoting industrialization in Pakistan.
He highlighted the significant opportunity presented by the relocation of Chinese industries to Pakistan.
Speaking at the launch of a report titled ‘Aligning Special Economic Zones Policies of Pakistan and China,’ the minister reaffirmed the government’s commitment to providing additional incentives and concessions to attract Chinese businesses.
He assured that full security would be ensured for their operations and mentioned Shenzhen as a model for SEZ development.
The report, a collaborative effort by the Pakistan-China Institute, the China Chamber of Commerce in Pakistan, and PowerChina, outlines a strategic framework aimed at strengthening economic and industrial collaboration between Pakistan and China through SEZs.
During the event, the minister noted that several SEZs in Pakistan are already operational and stressed the importance of export zones in driving economic growth.
He underscored the necessity for Pakistan to compete with regions like ASEAN, Bangladesh, and Central Asia by creating a conducive environment for industrial relocation.
Mustafa Hyder Sayed, Executive Director of the Pakistan-China Institute, highlighted the timeliness of the report’s release, coinciding with growing collaboration between China and Pakistan.
He emphasized the critical need for Pakistan to adopt export-oriented policies to attract Chinese industries relocating due to rising production costs and the allure of business-friendly environments and regional market access.
Su Dong, Media and News Director at the China Chamber of Commerce in Pakistan, noted the successful completion of 47 projects in Pakistan, with several more underway. He expressed PowerChina’s eagerness to continue its partnership with Pakistan and extended best wishes for the report’s success.
Zou Yaodong, Chief Administration Officer of China Overseas Ports Holdings Company Pakistan Ltd., congratulated the parties involved on the report’s launch. He remarked on the significant progress SEZs have made in recent years, becoming key drivers of economic growth.
Dr. Erfa Iqbal, Additional Secretary and Executive Director General-II (EDG-II) at the Board of Investment (BOI), shared her thoughts on the report.
She emphasized the importance of robust SEZ policies for economic survival and noted that China serves as an exemplary model for Pakistan, as well as for countries like Cambodia and Vietnam.
