Unlocking Investment Potential: Pakistan's SEZs Drive Forward with CPEC and PCJCCI
With the rapid expansion of Special Economic Zones (SEZs) as part of the China-Pakistan Economic Corridor (CPEC), Pakistan is experiencing a surge in international investment, primarily driven by Chinese companies. This influx is a testament to the excellence of Pakistan's textile, leather, pharmaceutical, and surgical instrument industries, which are globally renowned for their quality and innovation.
S.M. Naveed, Chairman of Punjab's Special Economic Zones (SEZs) government, shared these insights during a recent executive committee meeting of the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI). The meeting, held at the PCJCCI Secretariat, boasted an impressive attendance list, including Moazzam Ghurki, President of PCJCCI, Fang Yulong, Senior Vice President, Hamza Khalid, Vice President, Salahuddin Hanif, Secretary General, and other executive members.
P.c. China-Pakistan Economic Corridor
Naveed emphasized that the substantial transfer of China's modern industries to Pakistan is poised to revolutionize the country's industrial landscape, promoting modernization and bolstering exports of advanced industrial products. This transition is expected to significantly augment Pakistan's foreign exchange earnings and enhance its financial stability.
According to the CPEC Authority of Pakistan, Naveed highlighted key sectors where Chinese enterprises could establish a presence within Pakistani SEZs, encompassing textiles, footwear, pharmaceuticals, and information technology (IT). He underscored the potential to generate millions of job opportunities for local Pakistanis, particularly within the Chinese textile industry, which has the capacity to employ up to 2,000 locals during a single shift. Naveed envisioned a future where the arrival of numerous Chinese enterprises in Pakistan's SEZs would lead to the creation of millions of jobs for the local populace.
Furthermore, Naveed emphasized that local workers engaged in Chinese enterprises would receive comprehensive technical training, contributing to the development of human resources in Pakistan.
PCJCCI President Moazzam Ghurki applauded the ongoing collaboration, highlighting that China would continue to provide intellectual and technical support to accelerate the growth of Pakistan's priority sectors, particularly within the nine SEZs under CPEC. Notably, three of these SEZs have already advanced significantly in their development.
Vice President Hamza Khalid expressed confidence that this partnership would enable numerous Chinese companies to leverage Pakistan's competitive advantages, facilitating the transformation of trade potential into investment opportunities.
Salahuddin Hanif underscored the importance of unity among Pakistan's young entrepreneurs, encouraging them to learn contemporary techniques from Chinese enterprises to contribute to the nation's economic prosperity.