The Special Economic Zones (SEZs) have been expanded over four provinces under the China-Pakistan Economic Corridor (CPEC) to boost industrial production, says the SEZs Chairman SM Naveed.

During his visit to the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) in Islamabad, he said the SEZs have played a key role in the industrial development of many Asian economies.

“We should focus on cluster-based industrialisation as it is the key factor in the progress of China,” he said and mentioned that about 40 years ago, China initiated to make segments and clusters to set up industries by using reverse engineering, and new production norms like mass production and cost-effectiveness were introduced to markets.

SM Naveed said that his entire focus was on providing maximum support to all projects. He said Pakistan will provide gas, water, electricity and other facilities to factories in industrial parks.

"Pakistan is also providing Chinese enterprises with suitable policy packages to attract potential investors. Both countries are encouraged to support and work for each other," he maintained.

Joint Chamber's Senior Vice President Fang Yulong exchanged his views in his online address, and said that there was a dire need to take notice of the resources and provide maximum support to the zone developers in order to succeed, and achieve the targeted goal.

The PCJCCI Vice President Hamza Khalid said that SEZs would flourish gradually and open up new vistas of opportunities for the business community as well.

Salahuddin Hanif, Secretary General PCJCCI, said Pakistan needed to create a supportive business climate for domestic and foreign firms to invest in the specified zones.

Credit : Independent News Pakistan-WealthPk