Special Economic Zones (SEZs)had been expanded over four provinces under the China-Pakistan Economic Corridor (CPEC) with the intention to boost industrial production, SEZs Chairman S M Naveed stated on Tuesday.
Media reported that during his visit to the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI), the Chairman said SEZs were the specific sector as these had played a major role in the industrial development of many Asian economies. We should focus on Cluster-based industrialization as it is the key factor in the progress of China, he said.
He also mentioned that about 40 years ago, China started to make segments and clusters to establish industries by using reverse engineering and new production standards were presented to the markets which were mass production and cost-effectiveness.
S M Naveed further stated that his entire emphasis was on providing full support to all projects. Pakistan agreed to provide water, gas, electricity and other facilities to factories in industrial parks.
Pakistan is also providing Chinese enterprises with suitable policy packages to attract potential investors. Both countries are emboldened to support and work for each other, he noted.
Moreover, Joint Chambers Senior Vice President Mr Fang Yulong also exchanged his opinions in his online address and stated that there was a dire need to take notice of the resources and provide full support to the zone developers in order to flourish and achieve the targeted goal.
Addressing the occasion, Vice President Hamza Khalid stated that SEZs would succeed more actively under the guidance of S M Naveed and unwrap new vistas of opportunities for the business community as well.
Meanwhile, Secretary General PCJCCI, Salahuddin Hanif extended warm wishes to the new Chairman of SEZs and remarked that the country needed to create a supportive business climate for foreign and local firms to invest in the specified zones.