By Samia Khalid ISLAMABAD, May 11 (INP-WealthPK): Pakistan has renewed its commitment to expediting work on industrial zones in its efforts to promote industrialisation in the country and attract both foreign and local investment, reports WealthPK. The second phase of CPEC is, notably, geared towards accelerating industrialisation in Pakistan through building special economic zones (SEZ). In this respect, Allama Iqbal Industrial City (AIIC) was the first to be set up in Faisalabad in early 2020. Ever since its establishment, the SEZ has attracted a large number of investors and is set to expand further. The second SEZ was established in the Rashakai area of Nowshera in the Khyber Pakhtunkhwa province. Rashakai is unique in that the SEZ's developer is a Chinese business set-up responsible for promoting the SEZ to investors from China and other countries. Notably, it has already attracted a number of foreign investors. According to CPEC Authority, 42 acres of land have been provided to 11 enterprises for setting up their industrial units in the Rashakai SEZ. The industrial zone is likely to create about 2,500 jobs. The SEZ is being built in three phases over a period of six to seven years. The third SEZ is being set up in Dhabeji, Sindh. Similarly, a special economic zone is also being developed in the Bostan area of Balochistan. Chinese and European investors have already begun to invest in these special economic zones thanks to the efficient provision of utilities, including gas and electricity. The planning ministry has also directed all relevant ministries and departments to ensure the development of these industrial zones on modern lines to give impetus to industrialisation in Pakistan. It has directed engaging all the potential foreign investors to get their perspective on the SEZ design and development. It has been decided that progress on CPEC should be reviewed twice a month, and all Joint Working Groups (JWGs) should pursue their sector-specific projects and initiate related work immediately. Alongside fast-track industrialisation, Pakistan is also benefitting from the Chinese experience and its significant progress in the agriculture sector. The JWG on Agriculture set up under CPEC last year has helped carry out field experiments on high-quality cottonseed production. The working group has also helped identify large pieces of land in different provinces for producing different high-value crops. Besides, a research collaboration between Chinese and Pakistani institutions is being carried out to add new vitality and global connection to Pakistan’s agriculture research efforts. The two countries also set up a JWG on Science and Technology last year. Both sides have also agreed to form a JWG on information technology to tap this sector’s immense potential for job creation and exports. According to the CPEC Authority, China also aims to tap into the vast mineral sector of Pakistan. In this regard, the Geological Survey and the Metallurgical Corporation of China have presented proposals for possible collaboration in the mining sector. Pakistan Mineral Development Corporation has also delivered a detailed presentation, highlighting the potential of the sector and possible investment opportunities for Chinese investors. According to CPEC Authority, China will also assist Pakistan in conducting a diagnostic study of the mineral sector.