Investment process in special zones simplified, says Asad Umar

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Federal Minister for Planning, Devel­opment and Special Initi­atives Asad Umar has said that Pakistan has simplified the process of investment in Special Economic Zones (SEZs) not only for Chinese companies but also for other international companies.

Speaking at a ceremony held for the distribution of awards among 27 outstanding Pakistani staff of CPEC projects at the Chinese Embassy, he said two days ago the government had approved the simplified investment process for industries and companies willing to invest and operate in the SEZs.

Besides, he said, the federal and provincial governments had developed a mechanism to facilitate companies interested in investment in SEZs. He said that despite Covid-19, CPEC made remarkable progress in 2021.

“We have seen completion of projects and most importantly broadening of CPEC that is through the industrial cooperation framework and now it is showing results such as construction work at AIlama Iqbal, Rashakai SEZs as well as expansion of Special Economic Zone in Gwadar.

“The north zone is 35 times larger than the south zone and that shows the confidence of Pakistan’s commitment towards progress and future of CPEC,” the minister said.

He said in the second phase of CPEC, the two countries were focusing on agriculture and science and technology sector.

The minister said that CPEC was expanding in all fields and many projects started in the first phase had been completed or about to be completed.

“This is the testimony of not just the quality of relationship between Pakistan and China but also evidence of our strong bond and commitment for completion of CPEC projects,” Mr Umar said.

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