INP-WealthPk

Chinese Government to Facilitate Pakistan’s Marketing of SEZs

May 26, 2022

By Samia Khalid ISLAMABAD, May 26 (INP-WealthPK): The Chinese government is willing to facilitate Pakistan’s business marketing of special economic zones (SEZs), reports WealthPK. China has vast experience in the development of SEZs. Therefore, Pakistan wants to get the support of the Chinese government in this respect. China has agreed to facilitate Pakistan’s business marketing of SEZs under a recently signed industrial cooperation framework between the two countries. In an interview with WealthPK, a socio-economic development specialist at CPEC Authority Adnan Khan said industrial cooperation refers to a framework agreement signed between Pakistan’s Board of Investment (BoI) and China’s National Development and Reform Commission (NDRC). “The agreement has prepared the ground for several key developments. First, coordinated efforts between Pakistan and China to attract foreign investment for SEZs have now been afforded official support from both sides, and the role of joint working groups (JWGs) is equally prioritized,” said Adnan Khan. While talking about Rashakai SEZ, the CPEC official said it is a flagship industrial project of the government of Khyber Pakhtunkhwa under CPEC. “The Rashakai SEZ is being developed by China Road and Bridge Corporation (CRBC) under a concessional agreement with the Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC). The Chinese state-owned enterprise CRBC is also actively involved in the marketing of the SEZ in China. The investment plan is focused on high-tech, export-led industries that can add value to the local natural resources and food industry,” he said. The official said that under the recently signed framework for industrial cooperation, Pakistan wants similar facilitation regarding SEZ development at the government level rather than a company. “Pakistan wants facilitation in the marketing of SEZs, and B2B (business-to-business) interaction. Therefore, a business forum was established under the BoI to provide investors a direct platform to develop ideas for joint ventures. This initiative was also aimed at including Pakistani exporters in the global supply chain,” he said. The official said that under the industrial cooperation framework and business forum, Pakistan will be able to get facilitation from the Chinese government. “Previously, Pakistan used a private approach to business marketing, with no involvement from the Chinese government. Now, under the industrial framework, the Chinese government is also a part of the team. It means that if a BoI team visits China, the local investment promotion agencies will be the hosts and facilitators,” he said. “China will create favourable conditions for attracting investment. Pakistan will establish external infrastructure facilities and provide one-window service in the SEZs as quickly as possible,” said Adnan Khan. The industrial cooperation agreement between China and Pakistan recognizes the importance of bringing together business joint ventures and SEZs to benefit Pakistan’s industrial activities. Therefore, both countries are working on the speedy completion of SEZs under CPEC.