Daily Times

Minister for Industries and Production, Rana Tanveer Hussain on Friday emphasized the significance of Special Economic Zones (SEZs) in attracting Foreign Direct Investment (FDI) and fostering industrialization, noting that the relocation of Chinese industries presents a significant opportunity for Pakistan.

While addressing a report titled Aligning Special Economic Zones Policies of Pakistan and China the minister said that the government is committed to offering more incentives and concessions to attract Chinese businesses, ensuring full security for their operations, and adopting Shenzhen as a benchmark for SEZ development.

The Pakistan-China Institute, in collaboration with China Chamber of Commerce in Pakistan and PowerChina on Friday launched a report titled “Aligning Special Economic Zones Policies of Pakistan and China”. The report aims to provide a strategic framework for enhancing the economic and industrial collaboration between Pakistan and China through Special Economic Zones (SEZs), said a press release.

Speaking on the occasion, the minister highlighted that a few SEZs in Pakistan are already functional and stressed the importance of export zones in driving economic growth. The Minister underscored the need for Pakistan to compete with other regions, such as ASEAN, Bangladesh, and Central Asia, by creating a favourable environment for industrial relocation. Executive Director of Pakistan-China Institute, Mustafa Hyder Sayed emphasized the timeliness of the report. He noted that its release coincides with increasing collaboration between China and Pakistan, making it a pivotal moment for both nations.

He highlighted the critical need for Pakistan to adopt export-oriented policies to attract Chinese industries that are relocating to the global south due to rising production costs, business-friendly environments, and market access to regional markets.