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Special Economic Zones (SEZ), under CPEC

ghazi52

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CPEC has been defined as one of the priority areas in Budget 2021-22.

Rs 7 billion have been earmarked to expedite development of CPEC-led Special Economic Zones.

• Allama Iqbal Industrial City SEZ
• Dhabeji SEZ
• Rashakai SEZ
• Bostan SEZ
 

ghazi52

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Forum for attracting Chinese investment in SEZs held in Beijing
June 29, 2021


BEIJING: The Embassy of Pakistan in Beijing on Monday organized an investment forum and promotion conference aimed at providing a platform to the Chinese enterprises to collaborate with Pakistani companies to take advantage of investment opportunities being offered in the special economic zones in Pakistan.

The China – Pakistan pump and valve industry cross-border investment forum and China (Wenzhou) international pump and valve fair promotion conference was co-sponsored by China Council for the Promotion of International Trade Beijing Sub-council (CCPIT Beijing), China Council for the Promotion of International Trade Wenzhou Municipal Committee (CCPIT Wenzhou) and National Bank of Pakistan Representative Office Beijing.

Speaking on the occasion, Deputy Head of Mission Ahmed Farooq briefed the audience about all weather strategic cooperative partnership between Pakistan and China as well as growing trade and economic relations between the two countries.

He informed that China-Pakistan Economic Corridor (CPEC), a flagship project of Belt and Road Initiative, is progressing well and has entered the industrialization phase.

He said this event has been organized as part of celebrations of the 70th anniversary of the establishment of diplomatic relations between Pakistan and China.

Ahmed Farooq also expressed the confidence that today’s event would promote business to business cooperation between the two countries and investment in the area of industrialization in Pakistan.

In his address, Commercial Counselor, Badar Uz Zaman said, Pakistan is a country of great potential and growth and with each passing day, its economy is getting better. Business, industrial sectors are thriving and booming.

He said, with the development of the chemical industrial sector, the share of the manufacturing sector significantly increases and contributes to the overall GDP growth.

Most of the raw materials and intermediates for dyes and pigments, plastic and fertilizers are being imported. No appreciable progress is possible in the chemical sector without indigenous production of petrochemicals and other chemicals, he added.

He said, there are huge investment opportunities in different sectors particularly chemical and petrochemical industry in Pakistan.

The Pakistan government welcomes overseas countries, especially Chinese investors to invest and do business in Pakistan and hopes that Chinese companies could choose Pakistan as their investment destination, he added.

He said the forum would lay a solid foundation for the next construction of the pump and valve industry in both countries.

Vice President of CCPIT Beijing, Zhu Jialiang and Party Member and Consultant II of CCPIT Wenzhou also spoke on occasion.

Export Manager of Jinggong Valve Group Muhammad Abbas briefed about the Wenzhou pump and valve enterprises and Luna of China Road and Bridge Corporation updated the audience about the development of Rashakai Special Economic Zone.

The Chief Representative of the National Bank of Pakistan (NBP) Beijing threw light on the investment and financial market in Pakistan as well as the service being offered by his bank to the Chinese investors.

Secretary General of ECCAC Ms Sun Lili introduced the ECCAC and shared development opportunities of industrial cooperation between China and overseas industry.

Later, Badar Uz Zaman said that the basic objective of this forum is to provide a platform to the Chinese and Pakistani enterprises to collaborate with each other.

Through this platform, we have told the audience about investment opportunities that Pakistan is providing in the form of special economic zones and in the form of investment friendly environment and policies, he added.

The commercial counsellor said that since the participating organizations have thousands of members, telling them about Pakistan will definitely help spread the message to people in China.

Sheikh Muhammad Shariq termed the event a big success and said that Wenzhou has already good relations with Pakistan. As Pakistan has moved towards industrialization and more and more economic activities are generated there, the demand for these accessories is going to increase.

He said, this event would help Chinese and Pakistani companies who are dealing in the same business cooperate with each other.

About NBP’s sponsorship, he said, all over the world, the banks and financial institutions provide help and support to industries to develop and grow.

Our bank has already set up three desks in Islamabad, Lahore and Karachi to facilitate Chinese companies which are doing business in Pakistan. Similarly, we are going to support companies in Wenzhou to invest and set up business in Pakistan, he added.

At the end of the event, China (Wenzhou) International Pump and Valve Fair signed separate cooperation agreements with Water Supply and Drainage Affiliate of China Construction Metal Structure Association (CCMSA), Tianjin Valve Pump Chamber of Commerce and Mengcun Hui Autonomous County Youth Entrepreneur Association.

The forum was attended by Ambassador of Burkina Faso, Adama Compaore besides representatives of around 120 companies and over 20 associations in China including representatives from Embassy of Pakistan Beijing, representatives from embassies related with RCEP and One Belt One Road, representatives from Wenzhou CCPIT, enterprise representatives from relevant countries and districts, representatives from domestic industry chamber of commerce and association, enterprise representatives from well-known Wenzhou and other domestic pump and valve enterprises and media.
 

ghazi52

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Industrialisation started in Khyber Pakhtunkhwa.

Steel Mill inaugurated in Hattar SEZ 500,000 tons with annual production.



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ghazi52

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CPEC SEZ, Allama Iqbal Industrial City achieve first phase completion


July 29, 2021





The Allama Iqbal Industrial City in Faisalabad, a CPEC Special Economic Zone has completed its first phase as 20 industrial units have began their production. The Chairman of Faisalabad Industrial Estate Development and Management Company (FIEDMC), Mian Kashif Ashfaq has said that Prime Minister Imran Khan expressed satisfaction over the pace of development, and has directed Federal Minister Hammad Azhar, adviser to PM on Commerce Razak Dawood and Minister Industries Punjab Mian Muhammad Aslam Iqbal to ensure provision of basic infrastructure.


 

ghazi52

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The first phase of Allama Iqbal Industrial City Faisalabad, the first Special Economic Zone (SEZ) of Punjab under China Pakistan Economic Corridor (CPEC) has been completed.

Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman, Mian Kashif Ashfaq said nearly 20 industrial units have started their production, which covered one third of land of first phase of Allama Iqbal Industrial city while remaining will go into operation by the end of year.

“The PM has further directed to minimise the time of allotment of industrial plots to foreign and local investors and all investors must also be facilitated through one window operation,” he added.

He said this project spread over a tract of 3300 acres of land was being completed on fast track basis, which included furniture city, apparel park, modern business centre and the largest expo centre for displaying Pakistan made products to attract local and foreign buyers.

He said the PM had already approved 500 mega watt grid station and 40 MMCF gas to meet the demands of the industrial units. He said an amount of Rs7.5 billion has so far been spent on the completion of first phase.



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ghazi52

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Century Steel Pvt. Ltd to invest USD 360MN in Rashakai SEZ

August 5, 2021

ISLAMABAD: Century Steel (Pvt) Ltd, a Chinese company will invest $360 million in the Rashakai Special Economic Zone in Khyber Pakhtunkhwa under the China-Pakistan Economic Corridor (CPEC).

CPEC Project Director Dr Liaquat Ali Shah said this, while talking to Business Recorder on Wednesday.

He said that all the utility facilities including electricity, gas, water, and others for Rashakai Special Economic Zone would be completed at the end of this year.

He said that in the first phase, Chinese iron and steel conglomerate has become the first foreign enterprise to establish its plant in the Rashakai Special Economic Zone under the CPEC with a planned investment of $50 million.

He said that industrial relocation to Pakistan under the CPEC is our policy and other foreign companies are ready to invest in Pakistan.

The CPEC project director said that 40 acres land has been allocated to Century Steel Ltd owned by Fuzhou Julitaihe International Company of China in Rashakai Special Economic Zone, which owns steel mills in Indonesia, Myanmar, Cambodia, and Ethiopia with a net capacity of 3,000 million tonnes of iron and steel products.

He said that the Rashakai SEZ comes under the CPEC umbrella and is the first industrial cooperation project between China and Pakistan.

He said that the 1,000-acre zone will create 200,000 direct and indirect jobs and is expected to attract Rs347 billion investment.

According to a statement of the Board of Investment (BoI), having the capacity to produce 0.25 million tonnes of steel products per annum at the proposed plant in Rashakai, the project will consume 45MW of electricity and create job opportunities for 1,000 employees directly or indirectly.

The BoI said 10MW of electricity at the economic zone had already been arranged through 11kV feeder, while work was in progress on the 160MW, 132 kV grid station.

Due to its location on the motorway and proximity to the Torkham border and Central Asia, the Rashakai SEZ is expected to be the game-changer for Khyber-Pakhtunkhwa.

Answering a question, CPEC Project Director Dr Liaquat Ali Shah said that the first phase of Allama Iqbal Industrial City, Faisalabad Special Economic Zone (SEZ) of Punjab under the CPEC has been completed.

He said that development work on Dhabeji Special Economic Zone (DSEZ) in Thatta and Bostan Industrial Zone situated at district Pishin Balochistan is continuing and all utility facilities (gas, electricity, water, access road, security etc) would be completed at the end of this year.

Answering another question about agriculture sector, Dr Shah said that we are focusing on development work on two sectors, first industrial sector and second is the agriculture sector.
He said that we have signed a memorandum of understanding (MoU) with China on agriculture sector.

“We have prepared an Action Plan on agriculture sector and shared it with the Chinese government. We will discuss the Action Plan in the next Joint Coordination Committee (JCC) meeting, which is expected in this month (August),” the CPEC project director said.
 

ghazi52

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SEZs set up under CPEC open to Chinese, third-party investment

, 20 Aug 2021,

NINGXIA, Aug 20 (APP):The Special Economic Zones (SEZs) under China Pakistan Economic Corridor (CPEC) are not limited to the Chinese enterprises alone and that all industrial corporation ventures under CPEC are open to third-country participation as well.

“We look forward to your high-quality investments in Pakistan while enhancing B2B and P2P cooperation,” Fareena Mazhar, Secretary Board of Investment, Pakistan in her online address at the Belt and Road Investment Promotion Conference held in Ningxia Hui Autonomous Region, China.

“Since the launch of the China Pakistan Economic Corridor (CPEC), China has been the largest investor in Pakistan with FDI inflows of US dollars 8 billion and outsource of US dollars 2.1 billion, thereby contributing 36% to the net investment in Pakistan”, she informed the participants.

She further stressed that the Special Economic Zones (SEZs) under CPEC are not limited to the Chinese enterprises alone and that all industrial corporation ventures under CPEC are open to third-country participation as well.

Taking this opportunity, she introduced the incentives Pakistani provides to international investors, such as one-time customs exemption and a 10-year income tax holiday for both zone developers and enterprises. Online portals developed by BOI and in collaboration with China Council for International Investment Promotion are also provided to facilitate SEZ investors.

Facing an estimated global economy expansion by 5.6% in 2021, the strongest post-recession recovery in 80 years, she says, “a world of opportunities has opened up, setting the fundamentals of industrial B2B cooperation.”

With the theme of “opportunities, future, sustainability”, the forum also witnessed the signing of contracts.

Ningxia Communications Construction Co., Ltd. signed a contract totaling USD 43 million with Nauman Construction Company of Pakistan for highway construction including a cross-railway bridge to connect Rhodland to Multan, Punjab.

The construction is expected to start recently and conclude in about two years, company staff told China Economic Net (CEN).

Hosted by the Chinese Ministry of Commerce and the government of Ningxia Hui Autonomous Region, the conference aims to promote joint construction of the Belt and Road and two-way investment for sustainable development. The conference is part of the fifth China-Arab States Expo inaugurated in Ningxia today.

Qian Keming, Vice Minister of Commerce of China, Sun Ping, Vice President of Export-Import Bank of China, Zhang Yansheng, chief researcher at the China Center for International Economic Exchanges, representatives from China International Contractors Association, China Communications Construction Group, KPMG, and senior guests from Egypt and UAE also attended the meeting.
 

ghazi52

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CPEC’s Hattar SEZ orders bar rolling mill


September 2, 2021




PESHAWAR: To enlarge its footprint in the growing regional market of infrastructure projects, Pak Steel at the Hattar Special Economic Zone (HSEZ) of Khyber Pakhtunkhwa (KP) has ordered a ‘bar rolling mill’ with a yearly production capacity of 45,000 metric tons.

“Pak Steel orders a new 450,000 metric tons per year rebar mill from Primetals Technologies, Italy. The plant is being installed at HSEZ,” according to Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZMIC).

Primetals Technologies has received an order from Pak Steel to supply a bar rolling to its site in HSEZ, according to the company’s official statement.

The mill will manufacture concrete reinforcement steel bars (rebars) with diameters ranging from 8mm to 40 millimeters. The design capacity will be 450,000 metric tons per year. The commissioning into operation of the mill is scheduled in the fourth quarter of 2022.

Pak Steel is one of the most prominent players of the Pakistani steel industry that focuses on the manufacture of concrete reinforcement bars as well as on light structural profiles. This expansion of 450,000 metric tons will boost the yearly production capacity to 650,000 metric tons and will enable Pak Steel to meet the rapidly growing steel demand in the country.

In July 2021, Chief Minister KP Mahmood Khan inaugurated the Pak Steel plant in HSEZ. The plant with an annual capacity of 500,000 tons will create 200 jobs for the local population.

The SEZs have contributed significantly to China’s development. Pakistan, being a friendly neighbor country to China and a member of BRI, is adopting SEZs for its economic growth by attracting domestic and foreign investment.

The SEZs are created, leveraging tax incentives to attract foreign investment that leads to technological advancement. Along with promoting value addition in exports, the SEZs also generate employment, encourage import substitution as well as mobilize foreign exchange in countries for Balance of Payment Support.
 

ghazi52

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Mar 21, 2007
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Rashakai Special Economic Zone will generate over 250,000 direct and indirect jobs. Construction work in reception center, complex building, internal road, boundary wall, drain and other areas is now progressing swiftly.


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ghazi52

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Mar 21, 2007
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ISLAMABAD, Oct 15 – Pakistani Federal Minister for Finance and Revenue Shaukat Tarin on Thursday afternoon said that the Special Economic Zones (SEZs) being built under the gigantic China-Pakistan Economic Corridor (CPEC) would be made autonomous to provide a conducive environment to the foreign investors.

The minister explained that the autonomous status would initially be introduced in around 6 SEZs within the next 12 months and would be replicated in other zones later.

He mentioned that Pakistan needed to build infrastructure to attract foreign investments. “Since Pakistan was not in the position to build such huge infrastructure, so China provided funds and helped us in building roads, railways, power generation, and other infrastructure, which generated economic activity,” he remarked in an interview at the United States Institute of Peace (USIP) on ‘Pakistan’s Economic Future.’

Tarin acknowledged that China had helped Pakistan build infrastructure. To a question, the minister said that there were some projects where companies from China, United States and Pakistan were engaged in joint ventures and collaborating with each other. “This cooperation could be enhanced,” he underlined.

The minister again made it clear that Gwadar port was open to everybody including Europe. “If anybody wants to have business with African countries and the Central Asia States, Gwadar is the right place,” he emphasized.

The minister underscored that the government wanted to attract investment from different counties and that was why it had developed infrastructure.

“Gwadar is a big opportunity as it is a unique territory covering Gulf, Central Asian republics and even distance to china is also short from this port. Any country can come and invest. Pakistan has been making efforts to attract people from different countries to invest in CPEC Special Economic Zones. We are also approaching overseas Pakistanis for this purpose,” he stated.
 

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