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Pakistani Prime Minister Shahbaz Sharif said on Wednesday that the special economic zones (SEZs) under the China-Pakistan Economic Corridor (CPEC) will play a vital role in the country’s economic development and prosperity.
The Pakistani government has been focusing on establishing SEZs across the country which would boost industrialization and exports while generating employment, Sharif said during his visit to the Rashakai SEZ, which is being developed under CPEC in the country’s northwest Khyber Pakhtunkhwa province.
A total of nine economic zones have been identified under CPEC where joint businesses and ventures from Pakistan, China and other countries will be set up to boost industrial progress and uplift the national economy. “The government of Pakistan is committed to promoting industrial development to make Pakistan an economically-progressive country,” Sharif said.
With CPEC entering the most crucial second phase of implementation, the prime minister said that it is important to focus on the establishment of SEZs to make them the model of development.
Emphasizing the sharing of expertise between Pakistan and China, Sharif said the affordable and skilled labor of Pakistan and modern Chinese technology could jointly benefit both sides and help the economic development grow at a vigorous pace.
The prime minister also suggested organizing financial roadshows and other activities in China to promote Chinese investment which would result in a win-win cooperation.
Launched in 2013, CPEC is a corridor linking Pakistan’s Gwadar Port with Kashgar in northwest China’s Xinjiang Uygur Autonomous Region, which highlights energy, transport and industrial cooperation.
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