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Chinese ambassador seeks foreign investment in CPEC economic zones

Peshawar: According to a recent news report, the Chinese Ambassador to Pakistan Nong Rong has invited investors from across the world to invest in the Special Economic Zones (SEZs) being established in Pakistan under the China-Pakistan Economic Corridor (CPEC).

Nong Rong said that China will welcome the involvement of other countries in the CPEC process, speaking at the CPEC Industrial Cooperation Investment Conference organized by the Board of Investment (BOI) in the provincial capital on Thursday.

Read More: No debt burden on Pakistan due to CPEC power projects: China

He said both Pakistan and China are mutually working to ensure security, visa facilitation, and other infrastructure facilities in Rashakai SEZ. “The Chinese embassy wants to work closely with BOI and any third party to promote CPEC development,” he added.

The second phase of CPEC has just begun, according to BOI Chairman Atif Bukhari, and the BOI will continue to lead on investment promotion, facilitation, and industrial cooperation.

To encourage investment in Pakistan, he noted that the government has already implemented policies such as the electric vehicle policy, mobile manufacturing policy, construction sector incentives, Special Economic Zone Regulations 2020, SEZ Zone Enterprise Admin, and Sale/Lease/Sub-lease of Plot Regulations 2021.

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“Pakistan accords top priority to the development of SEZs under CPEC,” he said, adding that currently, out of the nine CPEC SEZs, two are in the advance stage of development, including Rashakai SEZ in Khyber Pakhtunkhwa and Allama Iqbal Industrial City in Faisalabad, Punjab.

Bukhari said that SEZs include lucrative fiscal benefits such as a 10-year tax holiday and custom duty exemption on capital goods imports to both the developer and the enterprises housed in the SEZs.

For more details, visit our website Property News.

 

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