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22nd November 2022 – SEZs can help to improve regional connectivity: S.M Naveed

SEZs can help to improve regional connectivity: S.M Naveed”

S.M Naveed, Chairman Special Economic Zones Authority (SEZA) Govt of. Punjab and Former President of Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) visited PCJCCI today for a think tank session. He said that we should unite to improve connectivity and trade among countries in the region. He also shared that Punjab’s Special Economic Zones are a hub of key industrial sectors like; textile, agriculture, food processing, automobiles and services sector. Around 10 zones are currently working in Punjab which includes; M3 Industrial City, Allama Iqbal Industrial City, Rahim Yar Khan Industrial Estate, Bhalwal Industrial Estate, JW China Pakistan, Vehari Industrial Estate and others. We are focusing to provide maximum support to all the projects. Pakistan agreed to provide gas, water, electricity and other facilities to factories in industrial parks. We are also providing business enterprises with suitable policy packages to attract potential investors.
Moazzam Ali Ghurki President PCJCCI said that SEZs provides economic connectivity between resource-starving states and resource-rich regions. This kind of regional integration enhances peace, promotes tranquility and ensures economic prosperity for the whole region. S.M Naveed, Chairman SEZs added that Chinese companies are also concerned about growing soya beans in Pakistan. Due to the opening of various industrial zones under CPEC, the volume of trade will expand manifold.
Fang Yulong, Senior Vice President PCJCCI attended the meeting online and shared his views by saying that Pakistan offers a big market for investment in energy, automobile, textile, surgical equipment, infrastructure, engineering, agriculture, minerals and SMEs. Its focus is also on renewable energy sources such as solar, wind, thermal, and biogas. Pakistan welcomes Chinese investment in all the sectors to take advantage of liberal and forward looking investment policy. SEZs will enjoy a 10-year exemption from custom duties and taxes for all capital goods imported into Pakistan for the development, operations and maintenance.
Hamza Khalid, Vice President PCJCCI said that there is a dire need to take notice of the resources and provide maximum support to the zone developers in order to succeed and achieve our targeted goal. Salahuddin Hanif, Secretary General PCJCCI added that in this regard, Pakistan is looking at other country’s experience, which has drawn the arbitration rules from the West, and currently intending to replicate the China’s experience of cluster development.

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