Unlocking a New Dawn: Special Economic Zones in CPEC Pave the Way for Industrial Advancement
Special Economic Zones (SEZs) are a pivotal element of the China Pakistan Economic Corridor (CPEC), poised to usher in a transformative era of industrial growth and economic prosperity in Pakistan.
During a recent collaborative dialogue between Pakistani and Chinese authorities, both sides expressed a shared vision for SEZs as catalysts for boosting economic vitality, fostering job creation, and bolstering foreign exchange reserves.
The Board of Investment (BoI) Pakistan and Chairman of China's National Development and Reform Commission (NDRC), Ying Xiong, alongside representatives from Zhejiang, Shandong, and Guangdong provinces, have enthusiastically endorsed the idea of encouraging their enterprises to establish strong ties with Pakistan's provincial BOIs and invest in SEZs.
Currently, Pakistan is actively developing five of the nine SEZs designated under CPEC. These include Allama Iqbal Industrial City in Faisalabad, Punjab; Dhabeji SEZ in Sindh; Rashakai SEZ in Khyber Pakhtunkhwa; Boston SEZ in Balochistan; and the rapidly advancing Gwadar Free Zone in Gwadar.
The first phase of the Gwadar Free Zone, encompassing 60 acres of land, is already fully operational, while the expansive second phase spanning over 2,200 acres is in progress.
CPEC officials report that numerous Chinese companies are actively operating within Pakistan's economic zones. Both governments are deeply committed to expediting SEZ projects and ensuring their swift operationalization.
Recent visits by representatives from Chinese companies to Pakistan have focused on addressing outstanding issues. The assurance has been given that all hurdles hindering the success of these projects will be promptly resolved.
Pakistan is keen to welcome Chinese industries to its CPEC SEZs, leveraging the expertise of these companies for mutual benefit.