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I
INP
December 19, 2020

Smart SEZs on the cards to promote Sino-Pak industrial cooperation

National

I
INP
December 19, 2020

ISLAMABAD: Smart Special Economic Zones (SEZs) are most likely to be established in pursuance of Industrial Cooperation (IC) under the pragmatic framework of China Pakistan Economic Corridor (CPEC), Gwadar Pro reported on Friday.

Smart SEZs aims to make new ground in developing pharma, health and artificial intelligence industries.

According to the report, serious deliberations are going on to define their theoretical and practical modalities.

As per fresh brainstorming sessions, joint ventures between Pakistan and China will be the key features for all smart SEZs.

In this regard, Project Director PMU-CPEC-ICDP of the Board of Investment (BOI) on Industrial Cooperation (IC) under CPEC, Asim Ayub witnessed the MoU Signing Ceremony between Neusoft Medical Systems Co., Ltd China and Dynamic Engineering Automation (DEA) Pakistan for establishing Sino-Pakistan Advanced Imaging Technologies, AI, Health Mgt, Academic, and Training & Education programs.

Considering the vital need of improving health infrastructure in Pakistan, the PD PMU stressed the need for the development of Smart SEZs & that BOI lays special emphasis on promoting Joint Ventures between local & foreign firms.

He informed that during the 5th Joint Working Group (JWG) Meeting on IC under CPEC, it was accentuated to expedite the development on SEZs & the idea of Smart SEZ is under consideration to accommodate pharma, health, AI industries, etc.

The MoU signing ceremony was held via an online platform in Pakistan and physically in China. The ceremony was witnessed by the Embassy of China in Pakistan, the National Development and Reform Commission, the Government of China & other Chinese authorities.

The China Pakistan Economic Corridor’s apex forum Joint Cooperation Committee (JCC) has assigned the Board of Investment (BOI), Pakistan, the task to facilitate, coordinate, implement, monitor and evaluate the industrial cooperation under CPEC from Pakistan’s side.

An MoU on Industrial Cooperation was signed between Pakistan and China on 20th December 2018. In this context, a Project Management Unit (PMU) has been established in the Board of Investment (BOI) to take forward the second phase of China Pakistan Economic Corridor, i.e.

Industrial Cooperation

(IC).

In the 6th meeting of the Joint Cooperation Committee (JCC), held in December 2016, nine sites across Pakistan were identified for the development of SEZs.

The government of Pakistan has given top priority to establishing three prioritized CPEC SEZs in Pakistan, which have been developed to an advanced stage including Rashakai SEZ in Khyber Pakhtunkhwa, Dhabeji SEZ in Sindh, and M-3 Allama Iqbal SEZ in Punjab, the report added.