Work on four SEZs at advance stage: official

ISLAMABAD: Work on four of the total nine Special Economic Zones (SEZs) along with Gwadar Free Zone under the auspices of the China-Pakistan Economic Corridor (CPEC) are at an advanced stage, an official said on Monday.

During a meeting hosted by the CPEC Authority for the Chinese companies working in Pakistan, Special Assistant to the Prime Minister on CPEC Khalid Mansoor said that the development work on these SEZs is at an advanced stage and the investors have started to populate them.

Pakistan offers regionally competitive incentives in SEZs, including 10 years’ income tax exemption and exemption of Customs duty on the import of capital goods, he said, adding that the CPEC Authority is setting up a facilitation center for investors.

Khalid Mansoor briefed the participants on the latest developments regarding CPEC and said that the Phase-II of CPEC is aimed at enhancing the bilateral cooperation in industrial, technological and agricultural sectors.

The business-to-business collaboration would be a hallmark of this phase of CPEC, he said.

Asad Umar encouraged the Chinese investors to explore more investment opportunities in the fields of industrial, agricultural, and information technology. Owing to the special relationship between Pakistan and China, the government and the people of Pakistan would wish to see much greater investment from China.

He solicited the support of the Chinese companies working in Pakistan to attract more foreign direct investment in the country.

Ambassador of China to Pakistan Nong Rong expressed appreciation for the event, which brought together all the Chinese companies.

The Chinese enterprises will work closely with the CPEC Authority to increase their business and investment activities in Pakistan, he added.

The chief executive officers of various companies also spoke on the occasion and presented their ideas and suggestions for consideration by the government.

The Board of Investment (BoI) chairman and representatives of over 70 Chinese companies attended the meeting, while a number of companies joined it through video-links.