CPEC industrial zones to play a pivotal role in Pak development

Our Correspondent
ISLAMABAD: Secretary Board of Investment (BoI) Azher Ali Choudhry has said on Monday that the Establishment of Special Economic Zones (SEZs) under CPEC framework based on Chinese experience coupled with active involvement of private sector will attract both local and foreign investors throughout the country. 
He was addressing the participants of training workshop on "Sharing knowledge in the area of Industrial Zones" conducted by senior industrial experts from China. The workshop was also addressed by Mr. Zhao Lijian, Chargé d'affaires Chinese Embassy Islamabad and attended by officials from Provincial and Federal Government besides members of academia and business community.
 The workshop is being organized by BoI and Ministry of Planning, Development & Reform. It was agreed in 6th Joint Cooperation Committee (JCC) to ensure transfer of knowledge in multiple sectors including industrial cooperation between the two countries. The seven member Chinese expert group is being led by Mr. Du Zhenli, Director China International Engineering Consulting Corporation. Accordingly, the industrial expert group is visiting Pakistan and has conducted workshops in Karachi and Lahore in addition to undertaking visits to sites of SEZs in Sindh and Punjab. 
Secretary BoI remarked that the basic idea of an industrial corridor is to develop a sound industrial base, served by competitive infrastructure for attracting investments into export oriented industries and manufacturing. "Such industries have helped succession of countries like Indonesia, Japan, Hong Kong, Malaysia, South Korea, and Taiwan, China and now even Vietnam rise from low-cost manufacturing base to more advanced high-end exports", he added. 
He told the participants that there is an immense potential and prospects for Chinese and other foreign investors in the country with 200 million people, which have growing needs in different fields and sectors of Pakistan`s economy like energy, oil and gas, infrastructure development, minerals, agriculture etc offer plenty of investment opportunities to investors. He hoped that the Pakistani side will seize this opportunity for meaningful interaction to ensure win-win results. 
Speaking on the occasion, Chinese diplomat Mr. Zhao Lijian said that business communities from both China and Pakistan could benefit from these interactions. He reiterated that industrial growth is the most modern way to maximize economic growth in a relatively short time span and China's experience in economic development provides a glaring experience for benefit of all developing nations. "China's GDP has grown exponentially due to SEZs despite the fact that they were late to undertake industrialization as compared to other developed nations", he added. He hoped that Pakistan will seize enormous opportunities enabled by industrial cooperation under CPEC to maximize its economic growth.