Ayesha Mudassar

The completion of Rashakai Special Economic Zone (RSEZ) Phase-I marks a significant milestone in the journey of industrial cooperation under the China-Pakistan Economic Corridor (CPEC), says Pang Chunxue, Charge d'Affaires of the Chinese Embassy in Pakistan. Addressing the opening ceremony of the International Conference “Decade of China-Pakistan Economic Corridor (CPEC) - Belt & Road Initiative (BRI): From Vision to Reality,” Pang Chunxue termed the completion of Phase-1 of RSEZ a symbol of the country's shared commitment to progress and prosperity. The conference was organized by the Ministry of Planning, Development & Special Initiatives in collaboration with the Embassy of China on the 10^th anniversary of the CPEC and BRI. Pang Chunxue added that both nations will also upgrade their cooperation to new heights, building a strong China-Pakistan community with a shared future in the new era.

Talking to WealthPK, Executive Commercial Officer of the China Road and Bridge Corporation (CRBC) Abdullah Shehryar said RSEZ is a flagship project of industrial cooperation under the CPEC framework. The economic zone was inaugurated in May 2021. The Chinese state-owned enterprise CRBC is actively involved in its marketing to develop the zone inspiring investors from other countries to invest in different sectors of the KP province. The zone has paramount investment feasibility for different sectors including processing and manufacturing, pharmaceuticals, home appliances, agriculture and horticulture, automobiles, and building materials. “Owing to its locational advantage and resource pool, the RSEZ will significantly enhance industrial growth, improve regional and global integration and promote China’s vision of developmental peace,” the executive commercial officer said.

The zone has the potential to become a base for Pakistan’s exports to Afghanistan, Central Asia, Russia, and Europe. With industries booming and infrastructure completing, RSEZ is making steady progress towards the goal of a logistics hub and industrial base, as well as benefiting local people. Shehryar said the success truly reflected the concept of BRI which was focused on openness, inclusiveness, win-win cooperation, joint construction, and mutual benefits. Adding to the discussion, Chief Economist of Pakistan and Executive Director CPEC Secretariat Dr. Nadeem Javaid said RSEZ will surely attract robust investment, promote infrastructure connectivity, transfer technologies, and enhance productivity. Moreover, it will serve as a gateway to the regional and international markets, fostering trade and creating job opportunities for the skilled workers.

Credit: INP-WealthPk