Pakistan Economic and Industrial Zones update

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Chinese firm to set up EV plant in Pakistan

BOI grants admission to MG JW Automobile Pakistan in JW-SEZ Raiwind


APP March 14, 2021


ISLAMABAD: The Board of Investment (BOI) has decided to facilitate the entry of China’s largest automobile manufacturer in Pakistan and the first private special economic zone (SEZ) in Raiwind, Punjab.


During an SEZ committee meeting on Saturday, the BOI granted admission to MG JW Automobile Pakistan Private Limited in JW-SEZ Raiwind as ‘zone enterprise’.

With an estimated foreign direct investment (FDI) of Rs663 million and local investment worth Rs637 million, MG JW Automobile will establish an electric car manufacturing plant.

MG JW Automobile (MG Pakistan) is a joint venture between JW-SEZ (Private) Limited and SMIL, which is a subsidiary of SAIC Motor Corporation Limited. SAIC is a Chinese state-owned automotive design and manufacturing company headquartered in Shanghai with multinational operations.

It is the largest auto manufacturer in China and the seventh-largest in the world. In 2006, SAIC purchased the prestigious British brand Morris Garages (MG) and it is now marketing automobiles under that brand all over the world.

The BOI received the zone entry application of MG JW Automobile Pakistan through its recently launched ‘SEZ MIS Module’, which acts as a one-window for SEZs in Pakistan. The module is designed to facilitate real investors, from all corners of the world, in getting admission into SEZs while ensuring complete transparency.

BOI Chairman Atif R Bokhari stated that the initiation of the first private SEZ in Pakistan was a testament to the fact that the government is fully committed to facilitating private investors for speedy industrialisation in the country.

Furthermore, BOI Secretary Fareena Mazhar said, “The launch of SEZ-MIS Module is a leap into the digital future of SEZ-led industrialisation.”

She further stated that BOI is making all-out efforts to facilitate private investors.


Published in The Express Tribune, March 14th, 2021.

 

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Special Economic Zones launched in Thatta, Chakwal

SEZs to include industries in medical sector, metals recycling, automobiles, paint, marbles, agriculture, renewable energy, paper recycling, artificial intelligence

The Dynamic Engineering and Automation (DEA), a privately owned engineering servicing company, has launched two Special Economic Zones (SEZs) at Pir Phato, Thatta and Padshahan, Chakwal districts.

The development concludes negotiations with Chinese investors and companies to establish manufacturing facilities, global service centres, R&D labs and sales centres with an estimated investment of $5 to $7 billion.

The master layout of the SEZs will be prepared by China Urban-Rural Holding Group, which specializes in rural and urban revitalization, eco-friendly designs and implementation of balanced development of regions in China.

A number of multi-billion Chinese companies have confirmed their investment plans in the two SEZs which have been launched in an effort to promote Foreign Direct Investment (FDI) in line with the vision of Prime Minister (PM) Imran Khan, DEA CEO Owais Mir said on Wednesday.

“We have signed agreements with Shenyang Biotech Group, Neusoft Medical Systems, HE Vision Group, Lovol Heavy Industries, Wondfu Medical, Kaper Technologies, Green Agrotech, Shenglin Metallurgical Group, Red Crown Intelligent Technology, Shanghai Rich Tai Industries and Dandong automation to act as the local partners and facilitators,” he told the media.

The Chinese investors will establish industries in the medical sector, metals recycling, automobile including EV, paint, marbles, agriculture and farming, renewable energy, paper recycling, artificial intelligence in the SEZs

 

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Asad Umar reviews progress on development of Rashakai SEZ

https://nation.com.pk/NewsSource/web-desk



Web Desk
March 27, 2021


Minister for Planning and Development Asad Umar has directed the authorities concerned to ensure completion of their respective task regarding Rashakai Special Economic Zone being constructed under China Pakistan Economic Corridor within stipulated timeframe.

He issued these directives while chairing a meeting to review the progress on the development of Rashakai Special Economic Zone in Islamabad.

The meeting was apprised about the progress of work at Special Economic Zone, especially regarding supply of gas and electricity to the Zone.

It was informed that 10MW electricity is available for Rashakai SEZ while the transmission line for another 160 MW is under construction and will be completed by November this year.

The meeting was further informed that the first Unit, a Steel Plant at the Zone is under construction and in the first phase, an investment of 79 million dollars will be made to produce 500,000 tons of Construction steel.

Asad Umar also directed the Planning Division to carry out monitoring of the various activities related to the Special Economic Zones.

 

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Labour-intensive industries top priority at Rashakai SEZ

Labours busy at work in Rashakai Special Economic Zone. [Photo/Tahir Ali]
by Tahir Ali

PESHAWAR: Rashakai Special Economic Zone (RSEZ), a flagship project of China-Pakistan Economic Corridor (CPEC), has attracted thousands of investors; however, in the first phase, preference will be given to ‘labour-intensive industries’ and companies that could positively balance Pakistan’s trade, according to Abdul Karim Tordher, Special Assistant to Chief Minister KP on Industries.

Talking exclusively to Gwadar pro, Abdul Karim Tordher said that an area of 700 acres would be developed in the first phase at RSEZ. “Against the available 700 acres of plots, we have received 0ver 2000 applications from local investors,” he said and added that all investors are from private sectors. According to him, out of 700 acres of land, Century Steel of China has acquired 40 acres of land and began working while many other foreign investors have shown interest to invest in RSEZ.

“Initially, preference would be given to labor-intensive industries like garments and textile as well as other industries that can positively balance Pakistan’s trade (increase exports), use indigenous raw materials, have import substitutions and can bring robotic and hybrid technologies to the country,” Mr. Tordher said and he added other general industries would be entertained in the next phase.

Talking about the development of RSEZ, Mr. Tordher said that an access road of 3.2 kilometers from Wali Interchange, Motorway-1 to the economic zone’s zero point is ready to use. The 10 megawatts electricity has been linked with the zone while work over main 60 MW electricity line from Mardan to RSEZ is going in full swing.

Access road from Motorway-1 to RSEZ zero point. [Photo/Tahir Ali]


According to him, a total of 210 megawatts of electricity is the overall requirement of RSEZ. For phase I, the requirement of electricity is 70 MW, which is needed for the infrastructure and construction of the industries.

Abdul Karim Tordher said that work over the gas pipeline to RSEZ is also in progress. After the completion of the pipeline, the RSEZ will get 30 million metric cubic feet per day. “The work will be completed before the end of 2021,” he said.
“Pakistan Army troops have been deployed at RSEZ to ensure the security of all the investors,” Mr. Tordher added.

Speaking about the inauguration of RSEZ, he said that Prime Minister Imran Khan was due to inaugurate the zone on March 27; however, the groundbreaking did not take place as the Prime Minister was tested positive for Covid-19. “The inauguration would be marked, as the Prime Minister is fully recovered,” he said and added, “Even without a formal groundbreaking, development at RSEZ is going at full speed”.

RSEZ is located at a very important location of the country. The zone is connected to all provinces of the country via motorway, highways, airport, dry port and railway line. Due to its proximity to Torkham, Pak-Afghan border, RSEZ possesses great importance and becomes flagship project of the CPEC. “RSEZ’s real goal would be to increase trade with Afghanistan and beyond the Central Asian states,” Abdul Karim Tordher told ..

 

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CPEC projects progressing fast under current govt: Asad Umar

• The Minister termed the occasion as another manifestation of exceptional relation between Pakistan and China.

APP
04 Apr 2021

KARACHI: Federal Minister for Planning and Development Asad Umar on Sunday said the projects under China Pakistan Economic Corridor (CPEC) were progressing with fast pace during the tenure of incumbent government.

The way government handled pandemic situation and made efforts to contain the spread of pandemic COVID-19, it would also continue working day and night for the success of the CPEC, he said while addressing the reception ceremony of first consignment, carrying equipment and machinery for Century Steel at Karachi Port, for setting up of a steel mill in Rashakai Special Economic Zone.

The Minister termed the occasion as another manifestation of exceptional relation between Pakistan and China.

Asad Umar said the CPEC was now entering into the most important second phase. The projects were now not limited to infrastructure only.

He informed that CRBC, a Chinese firm had entered into an agreement with Pakistan under CPEC to promote foreign investments for development and marketing in Rashakai Special Economic Zone (SEZ).

He said the work for the provision of basic necessities including electricity and others at Rashakai SEZ was underway at fast pace.

He said the Century Steel, a Chinese firm with the investment of US $ 240 million, would set up a steel mill in Rashakai SEZ which would produce about 1.5 million tons of steel.

The firm would also employ over 600 Pakistanis during construction phase while in second phase over 1000 people would be provided jobs.

Asad Umar said the bilateral relation of Pakistan and China was not new and whenever Pakistan needed a friend China was there.

Chinese Consul General in Karachi Li Bijian speaking on the occasion said due to the concerted efforts of the government of Pakistan, the economy of the country was strengthening and gaining momentum despite the negative effect of global pandemic, especially the construction sector had been witnessing faster growth and the demand for steel had increased.

Because of the brilliant efforts from both sides China and Pakistan, the first phase of the CPEC had completed, he said.

Li Bijian said, "We are quite confident to attract more and more investments in Rashakai SEZ".
The Consul General thanked the federal government particularly CPEC Authority Chairman for his support and efforts.

He said it was an honor for him to witness the reception of first consignment carrying equipment and machinery for Century Steel was only a beginning.

On the occasion, Chairman CPEC Authority Asim Saleem Bajwa, representatives of Century Steel, officers of KPT and other were present.

Meanwhile in his tweet, Asad Umar said the first industrial unit was being set up in the Rashakai SEZ in KP.

 

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Allama Iqbal SEZ (Faisalabad) Development work in full swing.
Total saleable land 2276 acres.
33% land purchased by 69 investors so far.182 acres purchased by 7 foreign investors.
Several Pakistani/ foreign Industries have started construction.

 

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CPEC’s four SEZs to create 1.47 MN jobs

May 18, 2021

ISLAMABAD – The four Special Economic Zones (SEZs), work on which is continuing at full swing, would create as many as 1.47 million jobs besides playing an important role in promoting local industry to lead the country towards sustainable economic growth.

“The four SEZs including Rashakai M-1 Nowshera; Dhabeji Thatta; Allama Iqbal Industrial City Faisalabad and Bostan Balochistan would create around 475,000 direct and 1,000,000 indirect jobs all across the country,” senior official of Board of Investment (BoI) told APP here Monday.

Talking to APP, the official said these SEZ, which are part of China Pakistan Economic Corridor (CPEC), would promote overall industrial growth in the country, adding that development of these four zones was top priority of the government. He was of the view that Pak-China industrial cooperation would make Pakistan a manufacturing hub in the region while the establishment of industrial zones would create vast investment opportunities for local industrialists.

The 1000-acre Rashkai Economic Zone would be developed in three phases and as per the plan 247 acres of land would be developed in the first phase, 355 acres in the second phase and 399 acres in the third phase. Likewise, the federal government would provide 210MW electricity to the zone in three phases while it had also earmarked Rs 1203 million for gas for this zone. The zone will provide employment to 80% locals, he said, adding that Rashakai has the potential to become a hub of economic activity. He said Rashakai Special Economic Zone is connected to all the provinces of Pakistan through airports, dry ports, railway stations, motorways and highways. The zone is located at the confluence of the five major districts of KP: Nowshera, Mardan and Swabi, Charsadda and Peshawar.

He said that there is fertile land in the adjoining districts, which is suitable for growing a variety of cash crops and vegetables. The SEZ would cover more than 400 industries, including garments and textile products, home appliances, general commercial goods, electronics and electrical appliances, automobiles and mechanical equipment.

Meanwhile, talking to APP, Adviser to PM on Commerce and Investment, Abdul Razak Dawood said the Special Economic Zones (SEZs) was a milestone for economic and industrial development in Pakistan. The Special Economic Zones would pave the way for foreign investment, setting a milestone in industrial modernization and diversification in the country, the adviser said.

He said that the Rashakai Special Economic Zone (SEZ) would set a new direction for modern industrialization in Pakistan and bring huge foreign direct investment (FDI) in the country.

Replying to a question on shift of industries from China to Pakistan, he said, “We are looking to welcome the Chinese industries in our SEZs to joint venture (JVs) with local investors and also share the mutual experience for benefiting the local industries.”

He said the government was prioritising development of special economic zones (SEZs) for attracting foreign direct investment (FDI) and transfer of technology into the country.

“The SEZs are primarily focused on industrialization that result in export promotion, import substitution, transfer of technologies and employment generation, which are the primary targets of our government as well,” he said.

The advisor said the establishment of SEZs was critical to resolving balance of payment issues as “we tend to give priority to enterprises which are involved in export generation or import substitution”. He said that Rashakai SEZ is the flagship project of CPEC and its success will further strengthen industrial cooperation between Pakistan and China.

He said the development of Rashakai SEZ had a huge strategic implication, because it is closer to resource rich Central Asian Republics (CARs) and also plays a role for economic integration of the region.

He said that all of these SEZs would have far-reaching socio-economic impact in the region by attracting more investment, spurring industrialization, creating employment in the industry and ensuring export led-growth.

He said that Pakistan’s proximity with China would allow these SEZs to foster economic interdependence for mutual economic advantage.

Replying to another question, he said that Rashakai SEZ held a unique competitive advantage due to its proximity to the first juncture of CPEC route, and significant resource and manufacturing base in the region.

Replying to another question about the most priority sector for future investment in Pakistan, he said that textiles value addition, information technology, logistic, tourism and housing are the major sectors for the government to bring foreign investment in these areas.

 

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Four Special Economic Zones (SEZs), which are under construction, will create 1.47 million jobs besides playing an important role in promoting the local industry to lead the country towards sustainable economic growth.

Rashakai M-1 SEZ (Nowshera),
Dhabeji SEZ (Thatta),
Allama Iqbal Industrial City (Faisalabad)
Bostan SEZ (Balochistan)

They will create around 475,000 direct and 1 million indirect jobs across the country,” a senior official of the Board of Investment (BoI) told APP on Monday.

Talking to APP, the official voiced hope that the SEZs would jointly promote overall industrial growth in the country and reaffirmed that the development of these zones was the top priority of the government.

He was of the view that industrial cooperation with China would make Pakistan a manufacturing hub in the region while the establishment of industrial zones would steer investment opportunities for local businessmen.

The 1,000-acre Rashakai SEZ has attracted over 2,000 domestic and foreign investors from different sectors of the economy and it is playing a vital role in promoting rapid industrialisation in the country. He said that the SEZ would be developed in three phases and as per the plan construction work would be done on 247 acres of land in the first phase, 355 acres in the second phase and 399 acres in the third phase.

Similarly, the federal government will provide 210 megawatts of electricity to the SEZ in three phases while it has earmarked Rs1.2 billion for gas supply.

Around 80% of employment in the Rashakai SEZ would be provided to locals, he said, adding that the SEZ had the potential to become a hub of economic activity.

He highlighted that the Rashakai SEZ was connected to all provinces through airports, dry ports, railway stations, motorways and highways. The zone is located at the confluence of five major districts of Khyber-Pakhtunkhwa, ie Nowshera, Mardan, Swabi, Charsadda and Peshawar.

“There is fertile land in the adjoining districts which is suitable for growing a variety of cash crops and vegetables,” he said. “The SEZ will house more than 400 industrial units including those of garments and textile products, home appliances, general commercial goods, electronics and electrical appliances, automobiles and mechanical equipment.”

Talking to APP, Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood earlier said that the SEZs would spark a wave of economic and industrial development in Pakistan.

The Rashakai SEZ would pave the way for foreign investment, setting the stage for industrial modernisation and diversification in the country, the adviser said.

He said that the SEZ would set a new direction for modern industrialisation and push up foreign direct investment (FDI) in the country.

Replying to a question on the shift of industries from China to Pakistan, he said, “We are looking forward to welcoming Chinese industries in our SEZs in the joint venture (JV) mode.”

He called on the government to prioritise the development of SEZs for attracting FDI and facilitating transfer of technology to the country.

 

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Rashakai SEZ to be functional by the end of next year: Abdul Karim Khan

May 22, 2021

SOURCEthenews.com.pk




While speaking at an event held at Rashakai Special Economic Zone, the Special Assistant to Chief Minister on Industry and Commerce, Abdul Karim Khan has announced that China has made a huge investment for improving different sectors of the Pakistan economy. He also said that CPEC has now entered Phase-3 successfully. The event was attended by representatives from Chinese embassy and GoP. Khan also said that RSEZ will be made functional by the end of next year after ensuring power, gas and other utilities’ connections.



NOWSHERA: The Special Assistant to Chief Minister on Industry and Commerce Abdul Karim Khan said on Friday China made a huge investment for improving different sectors of the Pakistan economy.

“The game-changer China-Pakistan Economic Corridor [CPEC] has entered Phase-3 after successfully covering the earlier two phases,” he said while speaking at a function arranged here at the Rashakai Economic Zone on Friday to mark the 70th anniversary of the Sino-Pak diplomatic relations.

The officials of the Chinese embassy, representatives of the Chine Road and bridge Corporation, Industries Secretary Humayun Khan Khyber Pakhtunkhwa Economic Zone Development and Management Company Chief Executive Officer Javed Khattak, Rashakai Economic Zone Estate Manager Sardar Ali and others spoke on the occasion as well.

A cake was cut and the national flags of the two countries were hoisted on the occasion by the special assistant to the chief minister and officials of the Chinese embassy.

Abdul Karim Khan said the Rashakai Economic Zone would be made functional by the end of next year after ensuring power, gas and other utilities there. “This economic zone will provide employment to a great number of local youth,” he pointed out.

The special assistant to the chief minister said that plots would be allotted in the Rashakai Economic Zone not through a draw but purely on merit on a first come and first-serve basis.

Abdul Karim Khan hoped the Rashakai Economic Zone would make this region a hub of trade with Central Asian Republics. He credited this zone to the efforts launched by the former chief minister Pervez Khattak and materialized by the present Chief Minister Mahmood Khan.

 

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We need to see more investment in Karachi and Sindh, most these investments seem to be focused on the north of Pakistan.

ISLAMABAD: The government has devised a comprehensive plan to set up 37 special economic zones (SEZs) across four provinces and special areas under the China-Pakistan Economic Corridor (CPEC) to boost industrial production.

SEZ Act 2012 provides the governing structure for these zones and allows both federal and provincial governments to set them up under various administrative frameworks.

The list of the proposed sites for establishing SEZs was shared with Chinese authorities in the last Joint Cooperation Committee (JCC) meeting held in Beijing recently.

For attracting Chinese enterprises, the government is working on an investment package, which is expected to be finalised before the end of March, the source added.

At the same time, the Board of Investment (BoI) will host potential investors from China, including the Tianjin region, for an exploratory visit. SEZs are believed to be critical for the industrial sector as they have played a key role in the industrial development in many Asian economies.

Four SEZ sites were identified in Punjab. Punjab-China Economic Zone and Quaid-i-Azam Apparel Park SEZ are in Sheikhupura while M-3 Industrial City and Value Addition City are in Faisalabad.

Out of these four SEZ sites, the JCC referred only two to the joint working group (JWG) on industrial cooperation for consideration: Punjab-China Economic Zone (priority) and M-3 Industrial City Faisalabad (alternative).

In Balochistan, nine places were identified for SEZs: Bostan Industrial Zone, Dasht Industrial Zone, Turbat Industrial Zone, Industrial Zone at the Junction of Qilla Saifullah, Zhoband Loralai, Gwadar Industrial Estate, Lasbela Industrial Estate, Dera Murad Jamali Industrial and Trading Estate and Winder Industrial and Trading Estate.

Only two of these requests were referred to the JWG for further action: Bostan Industrial Zone (priority) and Khuzdar Industrial Zone (alternative).

In Sindh, four sites were identified for SEZs. These are China Special Economic Zone at Dhabeji in Thatta, China Industrial Zone near Karachi, Textile City and Marble City. Two of these projects were considered in Thatta: China Special Economic Zone, Dhabeji (priority) and Keti Bandar (alternative).

The Khyber Pakhtunkhwa government requested the establishment of SEZs in 17 places under the CPEC. These include economic zone at Karak, Nowshera, Bannu, Jalozai, Rashakai, Risalpur, Chitral, Buner, Swat, Batagram, Jahangir, Mansehra and Gadoon Amazai. Others include Hattar Phase VII Industrial Zone, Ghazi Economic Zone and Gomal Economic Zone in Dera Ismail Khan.

Only two of the 17 sites were referred to the JWG for consideration: Rashakai Economic Zone (priority) and Hattar Phase VII Industrial Zone (alternative).

Moqpondass SEZ will be established in Gilgit-Baltistan.

In Azad Jammu and Kashmir, Bhimber Industrial Zone will be the priority project while Muzaffarabad SEZ will be the alternative.

In Fata, the only SEZ will be Mohmand Marble City.

ICT Model Industrial Zone will be established in Islamabad while an industrial park will be developed on Pakistan Steel Mills’ land in Port Qasim near Karachi.

According to the source, Pakistan agreed to provide gas, water, electricity and other facilities to factories in industrial parks. “Pakistan will also consider providing Chinese enterprises with a suitable policy package to attract potential investors,” the source said.

Karachi's population is almost 10% of Pakistan's total population there needs to be more substantial investment in setting up SEZs and Industrial zones.

 

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SEZ policy of Pakistan

The Special Economic Zones (SEZ) are the backbone of CPEC. In the second phase of CPEC, SEZs will be built across the country to facilitate industrialization and large scale manufacturing.

By Magazine Desk
5 February 2020







The Special Economic Zones Act 2012 (SEZ 2012, Amended 2016) was promulgated on September 13, 2012, and the SEZ Rules were notified in 2013 (SEZ Rules, 2013).

SEZ Act 2012 had to be amended on the recommendations of Board of Investments (BOI) when provincial governments and Chambers of Commerce and Industry (CCI) across Pakistan pointed out that in 2012 Act, SEZs were kept out of the customs law and were treated like the Export Processing Zones (EPZ).

It meant that while customs duty exemptions were available for plant and machinery at the import stage, it was not available on the products and services supplied to the domestic markets. This legal lacuna essentially reduced the attractiveness of the SEZs – and was thus corrected in the SEZ Act 2016.

Currently 13 SEZs are mentioned on the site of BOI as approved and notified; 9 of these SEZs are linked with CPEC – Phase: II. Allama Iqbal Industrial City (AAIC), managed by FIEDMC

The law provides SEZs to be set up by the Federal or Provincial Governments themselves or in collaboration with the private sector under different modes of public-private partnership or exclusively through the private sector.

The fiscal benefits under the SEZ law include a one-time exemption from custom duties and taxes for all capital goods imported into Pakistan for the development, operations and maintenance of an SEZ (both for the developer as well as for the zone enterprise) and exemption from all taxes on income for a period of ten years.

Currently, for the producers, the income tax exemption is five years, but it is expected that this too will be made 10 years. The provincial SEZ authorities, set up under the law, are required to move the applications received from developers to the Federal Board of Investment which is to act as the secretariat to the Board of Approval and the Approval Committee.

(SEZ Flow Chart explains the sequence of this process from application to final approvals).

An Approvals Committee chaired by the Chairman Board of Investments (BOI) has been created. This Approvals Committee exercises all such powers and responsibilities as are delegated to it by the Board of Approvals (BOA), headed by Prime Minister, subject to such conditions as it may deem fit. The
BOA may delegate all or any of its remaining powers and responsibilities to the Approvals Committee The Board of Approval (BOA), the highest approving forum, headed by the Prime Minister has membership from Economic Ministries, Provincial Governments, Public and Private Sectors.

Approvals Committee is headed by the Chairman BOI and membership from Economic Ministries, Provincial Governments, Public and Private Sectors and SEZ Authorities (at provincial level including Gilgit- Baltistan) work under the leadership of the Chief Ministers.

The Provincial Governments receive applications SEZ Policy of Pakistan for various potential zones in their respective provinces and they prepare documents to further process the applications. They are also engaged with potential local and foreign investors to finalize arrangements for infrastructure development of the areas identified for Zones.

Currently 13 SEZs are mentioned on the site of BOI as approved and notified; 9 of these SEZs are linked with CPEC – Phase: II. Allama Iqbal Industrial City (AAIC), managed by FIEDMC (Faisalabad Investment & Economic Development Management Company) is the first one that has reached the stage of ground-breaking – inaugurated by PM Imran Khan on Jan 3, 2020. Rashakai (KP) and Dhabeji (Sindh) are expected to see ground-breaking in 2020.

 

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The Special Technology Zones Authority (STZA) and Rapidev DMCC have signed a memorandum of understanding (MoU) to establish a technology park in Pakistan’s first Special Technology Zone (STZ) in Islamabad, a statement said on Wednesday.

The state-of-the-art development would facilitate a high-tech business environment, generate revenue of $200 million, and create 5,000 new jobs in the next five years, the statement said. It would be spread over 650,000 square feet and offer complete ecosystem to foster innovation.

According to the MoU, both organisations would work together to achieve high-tech industrial growth, create job opportunities, up-skill the youth, and attract foreign direct investments (FDI) through development of a knowledge ecosystem driven by research, innovation and collaboration.

STZA Chairman Amer Hashmi said the park would encourage innovative solutions and provide futuristic entrepreneurship opportunities for the youth of Pakistan.
The STZA team also addressed how the STZs have the potential to change the economic outlook of Pakistan by enhancing IT exports and encouraging technology and knowledge transfer from global technology hubs. It said the groundwork was in place for STZA’s flagship project, the Islamabad STZ.

The facilities offered to resident companies would include technology towers, cutting edge R&D labs, production and manufacturing plants, certified testing centres, wellness facilities and a centre of excellence.

Rapidec CEO Wajid Gulistan said that a research and training academy envisions equipping the youth of Pakistan with high-tech knowledge and skills. The aim would be to provide all resident companies, including startups, SMES and multi-nationals with access to all available facilities.
“Our mission is to make Pakistan the fastest growing exporting country in the world and make ‘Made in Pakistan’ a symbol of quality,” he added.

 

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CPEC-led Special Economic Zones.

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

A