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Thursday January 26, 2023

‘SEZs can help attract investments’

By Our Correspondent
November 29, 2022

LAHORE: Construction of special economic zones (SEZs) can attract investments from other countries, especially from China in sectors such as textile, leather, and pharmaceutical, SEZs chairman S.M Naveed stated on Monday.

With acceleration in development of SEZs under China-Pakistan Economic Corridor (CPEC), Naveed said, there was a strong of international investment led by Chinese enterprises in Pakistan.

He was talking to an executive body meeting at Pakistan China Joint Chamber (PCJCCI) secretariat. SEZs chairman was of the view that large-scale transfer of China’s modern industries to Pakistan would drive development of industrial modernisation and help boost Pakistan’s exports of advanced industrial products.

As a result, a large amount of foreign exchange income could be brought to the country, he

added. As per CPEC Authority, main sectors in which Chinese companies can establish their industries in Pakistani SEZs include textile, footwear, pharmaceutical, and information technology sectors.

Millions of jobs could be created for the locals through Chinese textile industry as it employs as many as 2,000 local Pakistanis in one shift, Naveed said. “From here we see that once a large number of Chinese enterprises are landed in Pakistan’s SEZs, millions of jobs will be created for the locals.” SEZs chairman said local workers working in Chinese enterprises would get a chance to learn and upgrade human resources of the country.

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