Pakistan, China to establish SEZs through joint ventures: Yao Jing

ISLAMABAD, Jan.10:(INP): Ambassador Yao Jing said China and Pakistan have started establishing joint ventures under China-Pakistan Economic Corridor (CPEC) framework of industrial cooperation to boost exports.

“Our focus is now developing four special economic zones (SEZs), and it requires time to place state-of-the-art infrastructure to attract investment.

The CPEC is regional project where companies from other countries can also invest,”Ambassador Yao said while addressing roundtable conference titled Searching for Economic Security and Growth organized by Institute of Policy Reforms (IPR) at COMSTECH Auditorium.
The Ambassador said that the CPEC was purely a commercial project, and there would be three new areas of future cooperation under the second phase of CPEC. In fact, 11 joint ventures have already been established in the SEZ at Faisalabad for the purpose of boosting exports.
He added that there were 25 projects underway through CPEC mechanism and most of them would be completed in first half of the current year.

Moeed Yousaf, Minister of State and Special Assistant to PM on National Security and Strategic Policy Planning said the CPEC possessed important vision. Because Pakistan required sustained and long-term growth trajectory that would help establishing synergies to achieve the desired objectives.

Yawar Ali, Chairman Pakistan Business Council (PBC) said that Pakistan needed Charter of Economy, which means the government would have to slash down subsidies by bringing improvement in State Owned Enterprises (SOEs)’ reports Gwadar Pro mobile App.