Apropos "Japan Economic Zone project may be shelved" news item carried by Business Recorder on September 27, the Consulate General of Japan has clarified: "According to the article, the "sources" and Saleem H. Mandviwala, Chairman, Board of Investment (BoI) consider that Japanese authorities are attributed to the delay of the Japan Special Economic Zone (JSEZ) project.
In this regard, we would like to provide a different view on the issue, by clarifying the current situation of JSEZ, and to request you to print our clarifications on your newspaper in tomorrow's edition. "The Government of Japan and the Japanese governmental organisations have been working closely in co-operation with Japanese companies in order to advance JSEZ as a key to the Japanese-Pakistani bilateral economic relationship, and there is no fact supporting your statement that we have put the project "in a cold stage".
"Considering the construction of the land, the Government of Pakistan has actually allocated a piece of land of 2000 acres to JSEZ. As far as we understand, it should have been the responsibility of the Government of Pakistan to develop it. Yet, there have not yet been any master plans, or roadmaps provided either to the Japanese authorities or companies. Furthermore, there have not been any agreements or promises made from the Japanese side to invest $5 billion as an initial investment in the Project ever since it has been launched.
"Certainly the recent security concerns are one of the reasons that Japanese companies seem to be afraid of investing in JSEZ. However, there are also other reasons: the project site has not yet been levelled completely; nor did the construction of key infrastructural facilities have started. Because of these conditions, Japanese both developers and investors, have to be hesitant about investment.
"According to the article, Saleem H. Mandviwala, Chairman, Board of Investment, states that "the Japanese authorities without giving assurance to bring Japanese entrepreneurs in JSEZ are emphasising on the [Pakistani] government to invest in the construction of JSEZ". It can be seen oppositely. The Government of Pakistan should have been fully responsible for developing JSEZ and a favourable environment for Japanese investment in it. The process has been taking in slow motion. Japanese authorities are urged to promote Japanese investment in JSEZ without any advancement in the above mentioned conditions. "Therefore, we would like you and the public to recognise these details of, and our point of view on, the JSEZ project," the clarification concluded.