ISLAMABAD: Planning Minister Ahsan Iqbal has said that Special Economic Zones (SEZs) will facilitate Chinese investment in Pakistan.

According to a statement issued here on Sunday in connection with his recent visit to China, the minister said, the first Rashakai SEZ will be inaugurated later this month.

The launch of other economic zones is at the advanced stages in Sindh, Punjab, and Balochistan, he said.

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Pakistan, he said, has a great advantage in low cost of labour. “As in China, many industries are experiencing high costs of production due to increased levels of cost and are now moving to Vietnam, Cambodia and Laos. Pakistan also has a great advantage in terms of low cost of production,” the statement quoted Iqbal as saying.

The minister said Pakistan has a very good infrastructure and China-Pakistan Economic Corridor (CPEC) framework.

He said several Chinese companies intend to start businesses in Pakistan and many Chinese companies have invested in Gwadar Free Zone.

Copyright Business Recorder, 2023