Islamabad: A new policy report aimed at enhancing economic collaboration between Pakistan and China through Special Economic Zones (SEZs) was unveiled in Islamabad. Titled ‘Aligning Special Economic Zones Policies of Pakistan and China,’ the report is a joint effort by the Pakistan-China Institute, the China Chamber of Commerce in Pakistan, and PowerChina. It seeks to strategize the development of SEZs to attract more Chinese industries to Pakistan.
According to Press Information Department, the launch event featured key insights from various stakeholders about the potential impact of the new SEZ policies on Pakistan’s economic landscape. Mustafa Hyder Sayed, Executive Director of the Pakistan-China Institute, emphasized the critical timing of the report, coinciding with increasing bilateral collaboration. The report outlines necessary adaptations from China’s successful SEZ model to suit Pakistan’s unique needs, including the creation of business-friendly environments and strategic industrial locations.
The event highlighted significant statements from Su Dong, Media and News Director at the China Chamber of Commerce in Pakistan, who celebrated the ongoing projects under PowerChina and their future commitments to Pakistan’s industrial development. Federal Minister for Industries and Production, Rana Tanveer Hussain, addressed the gathering, noting the pivotal role of SEZs in attracting foreign investment and the importance of aligning Pakistan’s industrial policies with successful global models like Shenzhen.
Dr. Erfa Iqbal, Additional Secretary at the Board of Investment, discussed the comprehensive approach needed to overcome the challenges faced by Pakistan’s SEZs, suggesting improvements in transaction costs, banking facilities, and security measures to foster a more conducive investment environment.
The report is expected to serve as a crucial blueprint for policymakers and industry leaders in developing SEZs that not only attract global investments but also drive sustainable economic growth in Pakistan.