Chinese to invest $62bln in CPEC infrastructure, power

Commerce Reporter

ISLAMABAD:  The Chinese investment experts are prioritizing to share the experience of industrial development and management of Industrial Parks under the China Pakistan Economic Corridor (CPEC) with local industrial sector to equip them with best international practices.
"Pakistan has huge potential for industrial growth and after the completion of China Pakistan Economic Corridor (CPEC), Special Economic Zones would provide facilities and bring foreign investment for industrial and economic growth, head of Chinese investment expert's delegation and Director of China International Engineering Consultant Corporation (CIECC) said yesterday.
The CIECC has extensive experience in building Industrial parks in China and other Countries.
The delegation of Chinese experts is visiting Pakistan to conduct trainings and workshops in context of Industrial Zones from October, 11 till October, 18 '2017, he said.
He said that these workshops are being organized by the Board of Investment (BoI).
Replying to a question, he said that CIECC held the first workshop in Karachi on October, 12 where a detailed briefing on the successful models of Economic Zones in China was highlighted by the experts in the presence of representatives of provincial government.
Du Zhenli said that CIECC is a state-owned consulting firm that will carry the final recommendations from its meetings in Pakistan back to the National Development Reform Commission (NDRC) in Beijing.
"It is very important to know the vision and situation of Pakistan and their requirements, he said.
He further emphasized that different industries have different requirements and each zone "must follow its own path".
He said the team of Chinese experts has visited Dhabeji Special Economic Zone, which is high on the agenda of Pakistan and China to make it part of the multi-billion dollar China Pakistan Economic Corridor (CPEC), has received overwhelming response from the potential foreign and local investors.
He said the zone to be developed over an area of 1,000 acres having strategic importance of close of Seaport, Airport and Road and Rail Network.
Du Zhenli said the visit of Chinese experts is significant as they would ascertain its potential for becoming priority Special Economic Zone (PSEZ) and Chinese are investing US$62 billion in CPEC infrastructure and power.
The delegation will further visit Shiekhupura and Faisalabad SEZs as well as Lahore, Islamabad, and Peshawar for holding workshops during their visit to Pakistan.