Investment Processes in Special Zones Simplified
Mr. Asad Umar, Federal Minister for Planning, Development and Special Initiatives, announced in ISLAMABAD that Pakistan has streamlined the procedure for Chinese and other international firms to participate in Special Economic Zones (SEZs).
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At a ceremony hosted at the Chinese Embassy for the awarding of prizes to 27 outstanding Pakistani personnel of CPEC projects, he deduced that the government had authorized the simplified investment process for industries and firms wishing to invest and operate in SEZs two days prior.
In addition, he stated that the federal and provincial governments established a system to facilitate enterprises interested in investing in SEZs, and that CPEC achieved outstanding development in 2021 despite Covid-19. In addition, he stated that we have witnessed the completion of projects and, most importantly, the expansion of CPEC through the industrial cooperation framework, which is now bearing fruit in the form of construction work at Allama Iqbal, Rashakai SEZs, and the expansion of the Special Economic Zone in Gwadar.
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The minister stated that the north zone is 35 times larger than the south zone, demonstrating Pakistan’s commitment to CPEC’s development and future. According to him, CPEC is in its second phase, and the two countries are concentrating on agriculture and science and technology. According to the minister, CPEC is expanding in many disciplines, and many first-phase projects have been completed or are nearing completion. Mr. Umar stated that this is not only evidence of the strength of the relationship between Pakistan and China, but also of our strong bond and dedication to the completion of CPEC projects.
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