Mansoor Sadiq

The special economic zones (SEZs) are providing best available opportunities for Chinese entrepreneurs to invest in Pakistan to take advantage of the incentives that Pakistan offers to foreign investors, said Dr Talat Shabbir, Director at China-Pakistan Study Centre (Institute of Strategic Studies). Talking to WealthPK, Dr Talat said the SEZs, once in place, will kick off industrialisation in Pakistan and create thousands of jobs with enhanced individual skills and industrial productivity. He elaborated that while the first phase of China Pakistan Economic Corridor (CPEC) was characterised by government-to-government or government-to-business collaboration in the areas of road infrastructure and energy projects, the second phase focuses on private sector.

Highlighting the importance of the CPEC second phase, he said it is of core significance in view of socio-economic development of Pakistan as it is going to engage with China in joint agricultural and industrial cooperation with a focus on poverty alleviation. To attract the Chinese and international entrepreneurs, the government needs to pursue innovative policies to present the SEZs as specialised areas to achieve specific goals. Dr Talat said that there were massive prospects in Pakistan for Chinese industries and entrepreneurs to invest in Pakistan as it owns great advantage in terms of low cost of production and easy availability of raw materials compared to neighbouring countries. Dr Talat said there is a massive potential of investment in multiple sectors in Pakistan including mining, agriculture, Information technology and energy.

“Owing to best available infrastructure in Pakistan following the completion of CPEC projects, there are attractive destinations for Chinese enterprises to relocate to these economic zones,” he said. Referring to massive opportunities in Pakistan’s mining sector, Dr Talat said Pakistan has huge marble deposits, which can be tapped with new technology, adding that Pakistan has other mines like lithium which can be used in electric vehicles. He stated that the country could achieve remarkable progress and development through joint cooperation and technology transfer initiatives with China, specifically in the areas of information technology, agriculture, energy and mining. In addition, he emphasised the need to attract Chinese entrepreneurs and investors by announcing incentives for them. He said that the SEZs at Rashakai, Dhabheji and Faisalabad were providing an enabling environment for them to relocate their industries to these ideal destinations.

Credit: INP-WealthPk