PESHAWAR: A memorandum of understanding (MoU) was signed between Khyber Pakhtunkhwa Economic Zones Development & Management Company (KPEZDMC) and Khyber Pass Economic Corridor (KPEC) SDU, P&D Department and Project Management Unit for the establishment of interim setup for Inclusive Business Development Park (IBDP).

The ceremony took place at KPEZDMC Head Office Peshawar, said in a press release here on Tuesday. The MoU signing officials were CEO KPEZDMC Javed Khattak and Project Director KPEC Imran Zahoor.

Minister for Industries and Commerce Muhammad Adnan Jalil witnessed the occasion as the Chief Guest of this ceremony while Secretary IC&TE-KP/Chairman BoD KPEZDMC Mati Ullah Khan graced the event as the Guest of Honor.

The purpose of this MoU is to establish an Interim-Setup for Inclusive Business Development Park at Economic Zone Hayatabad Peshawar, under the Operational Control of KPEZDMC. This initiative is gender inclusive that will enable male, female, persons with disabilities, and transgender to establish their business setups.

There are around 4638 MSMEs registered. The Management Committee Established for IBDP will be responsible for oversight and other affairs of BIZ Park.

The primary objective of IBDP is to provide an enabling working environment and opportunities for economic development of MSMEs in KP.

The IBDP is established through mutual collaboration of KPEZDMC and KPEC intending to gear and support home based business and to establish and expand businesses for sustainable and inclusive economy.

The initiative will work to enhance and establish networks amongst businesses, increase awareness and explore opportunities, facilitate knowledge creation and its disseminations, and provide platforms for B2B ventures.

IBDP is the cornerstone towards the creation and establishment of a market intelligence system within the province for the MSMEs.

Copyright Business Recorder, 2023