Govt to Set up Four Special Economic Zones – Research Snipers

Govt to Set up Four Special Economic Zones

The government is planning to set up joint ventures in manufacturing as per the Federal Minister for Planning, Development, and Special Initiatives Asad Umar

The Minister said, “The PTI government is determined to establish four special economic zones (SEZs) in all provinces.”

He said this while talking to a delegation of the Rawalpindi Chamber of Commerce and Industry (RCCI). The business delegation asked about the role they are playing in SEZs and the relationship between Pak and Chinese investors.

Also read: Govt Intends to Set up IT Special Economic Zones

He said, “This will integrate the enterprises from both sides and it is important for Pakistani manufacturing industries to become part of the global value chain by partnering with the Chinese companies.”

The minister said that CPEC Business Forum is set up to develop an interface between the government and the business community. The aim is to create an improvement in industrial cooperation between the two countries. He said that participation and representation from the private sector will enhance the pace of industrialization under China Pakistan Economic Corridor.

The focus is to boost the industrial capacity of Pakistan via joint ventures in priority areas, relocation of labor-intensive export-led industry, SME partnership and betterment of vocational training capacity.

He said that the infrastructure projects in CPEC’s first phase are either completed or are about to be completed. The second phase of CPEC is related to agriculture and other industries. Under a public-private partnership, the private sector can participate in the CPEC projects. Provinces have been asked to expedite development projects.

The delegation of Rawalpindi Chamber of Commerce and Industry was asked by the Minister to come up with a 3-year roadmap for industrialization and export sector strategy by March 2020.

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