CPEC SEZs to become commercial, technology and manufacturing hubs: Senior Pakistani official

ISLAMABAD, Oct. 8 (Gwadar Pro) - Twenty-two Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC) are designed to become high-end commercial, technology and manufacturing hubs, a senior Pakistani official said on Thursday afternoon.

Secretary of Board of Investment (BOI) Fareena Mazhar mentioned that four SEZs equipped with state-of-the-art facilities and business ecosystems are ready for investment as Early Harvest projects.

Addressing a seminar to promote investment in Pakistan, Mazhar apprised the initiatives undertaken by the government to facilitate investors.

Mazhar specifically referred to the Electronic Vehicles (EVs) Policy recently introduced by the government which offers a set of lucrative incentives for various categories of EVs.

She shared that the major rationale for providing generous incentives and encouraging investments in EV Technologies is to curtail the oil import bill, which was currently the largest import commodity for Pakistan.  

The government was committed to protecting and encouraging foreign investments. BOI would facilitate the investors and help them execute their investments.

Discussing the investment climate of the country, Fareena Mazhar elaborated that recent surveys indicated increased confidence of foreign and local investors due to liberal trade and investment policies of the government and that Pakistan was home to more than 1000 foreign companies.

Mazhar shared that vision 2025 maps Pakistan to join the top 25 economies in the world leading to upper-middle income country status by 2025.

Underscoring the strategic location of the country, the Secretary said that Pakistan was a promising regional hub and an important destination for trade and investment.