The applications from all such investors to set up their units would be processed in a transparent manner to allocate appropriate space within the zone, said an official statement issued after progress review meeting on the development and groundbreaking of Rashakai SEZ.
The meeting was presided over by Minister for Planning, Development and Special Initiatives Asad Umar, and was attended by provincial finance Minister Khyber Pakhtunkhwa Taimur Khan Jhagra and senior officials of the federal and provincial governments.
The meeting reviewed the work progress at the SEZ. It was informed that the camp office at the site has been established, while the first industrial unit has started its construction work within the zone.
The minister appreciated the work carried out by Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) and the development to set up Rashakai as the first SEZ in Public Private Partnership (PPP) model.
He said that the relevant federal agencies would be directed to provide all necessary support and assistant to make the SEZ a success.
Rashakai Special Economic Zone is poised to uplift Khyber Pakhtunkhwa by attracting local and foreign investment, creating thousands of jobs and bringing in economic and social services, according to Hassan Daud Butt, CEO Khyber Pakhtunkhwa Board of Investment & Trade (KP-BOI).
Many Chinese enterprises and investors have shown keenness to invest in RSEZ.
Pakistan received many requests from Chinese investors for land acquisition in RSEZ and KP-BOI has prepared a plan to facilitate the investors upon the inauguration,” he said.
There is a one-time tax exemption for developers if they bring equipment for the development to the economic zone.
RSEZ is expected to generate more than 200,000 jobs and the zone would contribute 2.30% of the provincial GDP.