CHINA WIDELY WELCOMED INVESTMENTS INTO PAKISTAN'S SEZS.

Byline: SYED FAZL-E-HAIDER

China has welcomed investment into Pakistan's Special Economic Zones (SEZs) from other countries. While speaking at the "Dialogue on Industrial Cooperation under CPEC and SEZs Framework" organized by the Board of Investment last week, China's Ambassador in Pakistan Yao Jing said that the Chinese investors were showing keen interest to invest in these SEZs. The private businesses have come into joint ventures of tyres, manufacturing ofbuses and trucks and textiles in the last six months. The second phase of CPEC would cover industrial cooperation, agriculture cooperation, social protection, poverty alleviation and cooperation in science and technology to boost the economy of Pakistan and to raise the level of skills and living standards of the population. In the second phase, the private sector, local community and the society at large would be engaged.

Present government led by Prime Minister Imran Khan has already declared that the SEZs are open for businessmen from all countries and nationalities, as thelucrative incentives under SEZs are the same for everyone.

The officials claim that investments in various sectors have started to pour in and it will pick up pace in the comingdays. The Adviser to Prime Minister on Commerce Abdul RazakDawood laid out the framework of the economic development strategy and said that the future lies in export-led growth strategy, making SEZs development vital to improve the capacity and to complement the export requirements of the country.

GWADAR - THE MAIN FOCUS OF ATTENTION

After taking over of the free trade zone at the Gwadar port in Balochistan, China is currently carrying out all business affairs of the port. Chinese authorities have also taken control of the 2,281 acresfree trade zone on a 43-year lease. Pakistan has already declared Gwadar port a free trade zone for the next 23 years. The port is essential part of China-Pakistan Economic Corridor (CPEC), which involves construction of highways, railways and energy pipelines connecting western China with Pakistan and the Persian Gulf. After construction of the proposed rail, road and pipeline projects between China and Pakistan, Gwadar port will handle most of the oil tankers to China. The development of road and rail links between the two provinces, Balochistan and Xinjiang, will give distinction to Gwadar port of becoming the gateway port for western China. Rail link will transfer goods to and from western China, changing...