CPEC/SEZ Cell at Board of Investment Islamabad

CPEC/SEZ Cell at Board of Investment Islamabad

A “CPEC/SEZ Cell” has been established at Board of Investment (BoI) to facilitate the stakeholders on matters relating to China Pakistan Economic Corridor (CPEC) and Special Economic Zones (SEZ). Dr. Miftah Ismail, MOS/Chairman, BoI inaugurated The CPEC/SEZ Cell. The requisite staff well conversant with the issues, relating to CPEC/SEZs has been deployed. The Cell has been furbished on the contemporary corporate style and will be equipped with sate of the art facilities. The Board of Investment has been assigned the lead role, under CPEC, for Industrial Cooperation. The Chairman, BoI has been designated as the convener of the Pakistan-side Joint Working Group (JWG) on Industrial Cooperation under CPEC. The Board of Investment is also the custodian of the SEZ Act, 2012. Under the SEZ Act, 41 SEZs have been identified so far from all over the country, which also include priority SEZs for CPEC one each to be established in provinces, Gilgit Baltistan, AJ & K and Islamabad. Establishment of proposed SEZs is expected to usher a new era of economic development, progress and prosperity in the country.
It is also important to note that seven SEZs have already been established/notified by the Federal Government, these include Khairpur Special Economic Zone, Korangi Creek Industrial Park, Bin Qasim Industrial Park in Sindh province, Quaid-e-Azam Apparel Park, Sheikhupura, M-3 Industrial City, Faisalabad, Value Added City and Faisalabad in Punjab province and Hattar Economic Zone, Haripur in Khyber Pakhtunkhawa province. A 24-member Chinese delegation led by Mr. Deng Jihai, Chairman, International Green Economy Association visited Board of Investment (BoI) and met with Secretary, BoI Mr. Azher Ali Choudhry. The delegation comprised not only Public sector but diversified sectors including power, renewable energy, agriculture, environmental protection industrial zone development, ship building, consultancy, real estate, trade, logistics and healthcare, etc. It was its third visit to Pakistan and the leader of the delegation appreciated efforts of BoI, Ministry of Planning, Development & Reforms and Ministry of Commerce in facilitating their visit to Pakistan. The Secretary welcomed the Chinese delegation, explained about general investment climate of Pakistan and highlighted importance of Chinese investment in Pakistan. The delegation was given a detailed presentation about Pakistan investment policy, different investment schemes including Export Processing Zones (EPZ), Special Economic Zones (SEZ) and facilitation
extended to foreign investors by BOI. Secretary, BOI encouraged Chinese side to develop and manage a special economic zone either in collaboration with BoI or independently. He emphasized that SEZ’s along CPEC routes
would have a natural advantage of back-word and forward linkages and owing to the experience of Chinese side there is every possibility to maximize the advantage. The Chinese sidewelcomed the proposal and designated M/s GBO-Global to discuss this idea in detail with BOI at technical level. Secretary BoI, appreciated Mr. Deng Jihai, Chairman, International Green Economy Association, China and his delegation, for their efforts and intention with regard to exploring Pakistan for their future investment plans. He assured the delegation of full support as and when needed.