China launches foreign direct investment strategy for setting up export industries in special economic zones under CPEC
ISLAMABAD – Prime Minister Imran Khan Tuesday chaired a review meeting on foreign investment in the industries being setup under the Special Economic Zones (SeZs) being developed under the multi-billion-dollar project of China, Pakistan Economic Corridor (CPEC).
Federal Ministers Shaukat Fayyaz Tarin, Shah Mehmood Qureshi, Sheikh Rashid Ahmed, Asad Umar, Makhdoom Khusro Bakhtiar, Ali Zaidi, Trade and Investment Adviser Abdul Razzaq Daud, Special Assistants Waqar Masood, Moeed Yousuf, Chairman CPEC Authority Lt. Gen. (R) Asim Saleem Bajwa and concerned senior officials attended the meeting. Governor SBP Raza Baqir joined through the video link.
The meeting was informed that the issues related to issuance of visas to the Chinese workers and officials coming under CPEC have been completely resolved while the Ministry of Interior is handling new cases on a daily-basis which has had a positive impact on the pace of CPEC projects.
A detailed briefing on the comprehensive strategy formulated by the Board of Investment for the establishment of export industries in the Special Economic Zones. The meeting was informed about the identification of potential foreign investors in various sectors in China and the incentives provided to them for direct foreign investment in Pakistan.
The meeting was also briefed on the establishment of assembly units of three major international mobile companies in Pakistan and their positive impact on local consumption and exports. A briefing was also given on the steps taken by CPEC Authority, Ministry of Industries and Production and Board of Investment to fast track the facilitation to the Chinese investors.
The Prime Minister termed the timely completion of CPEC as one of the top priorities of the government and stressed that the government was taking steps to promote investment in the export industry in the Special Economic Zone.
Exporting industries will provide employment, increase economic volume and ensure valuable foreign exchange, as well as access to the “Made in Pakistan” brand in global markets.
