Construction of SEZs under CPEC: Wave of investments by Chinese enterprises likely: SEZA chief

LAHORE: “With the acceleration of the construction of Special Economic Zones (SEZs) under China-Pakistan Economic Corridor (CPEC), there is a strong wave of international investment led by Chinese enterprises in Pakistan because our textile, leather, pharmaceutical, and surgical instrument industries are among the best globally, and the products are exported all over the globe,” stated by S M Naveed, Chairman Special Economic Zones (SEZs) on Monday during executive body meeting at Pakistan China Joint Chamber (PCJCCI) Secretariat.

The meeting was attended by Moazzam Ghurki, President PCJCCI, Fang Yulong, Senior Vice President PCJCCI, Hamza Khalid, Vice President PCJCCI, Salahuddin Hanif, Secretary General PCJCCI and other executive members.

S M Naveed, Chairman Special Economic Zones Authority (SEZA) Government of Punjab said that the large-scale transfer of China’s modern industries to Pakistan will drive the development of Pakistan’s industrial modernisation and help boost Pakistan’s export of advanced industrial products, bringing a large amount of foreign exchange income to Pakistan and enhancing the country’s financial strength. According to CPEC Authority of the Pakistani government, the main sectors in which Chinese companies can establish their industries in Pakistani SEZs include textile, footwear, pharmaceutical and information technology (IT) sectors.

He added that millions of jobs could be created for the locals through Chinese textile industry because it employs as many as 2,000 local Pakistanis in one shift. From here we see that once a large number of Chinese enterprises are landed in Pakistan’s SEZs, millions of jobs will be created for the locals. He also said that at the same time, local workers working in Chinese enterprises will receive extensive technical training, upgrading human resources development in Pakistan.

Moazzam Ghurki, President PCJCCI added that the best part is that the Chinese side will continue to provide intellectual and technical support to accelerate Pakistan’s priority sectors especially through the 9 SEZs of Pakistan under CPEC wherein 03 SEZs have been prioritized and are now at an advanced stage of development.

Hamza Khalid, Vice President PCJCCI said that I am confident that through this cooperation, many Chinese companies will reap benefits of Pakistan’s competitive advantages. It will definitely help in transforming trade potential into investment potential. Salahuddin Hanif, secretary General PCJCCI added that the young entrepreneurs of Pakistan should unite to boost the economy of Pakistan through learning contemporary techniques from Chinese enterprises.

Copyright Business Recorder, 2022