|As part of the joint MoUs between Pakistan and China under the China-Pakistan Economic Corridor (CPEC), the China-Road and Bridge Corporation (CRBC) and the Khyber Pakhtunkhwa Economic Zone Development and Management Company (KPEZDMC) have reached an agreement to start developing the 1000 acres of the Rashakai Special Economic Zone (SEZ). The Rashakai SEZ is ahead of all other SEZs, with its feasibility already complete, and with its completion, it is expected to generate thousands of jobs in the area.|
1000 acres of Rashakai SEZ to be developed by CRBC and KPEZDMC:
PESHAWAR: An agreement between Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) and China Road and Bridge Corporation has been signed to develop 1000 acres SEZ at Rashakai, in Nowshera district.
The project is expected to get SEZ status from Board of Investment shortly. CEO KPEZDMC Saeed Ahmed said this in a statement issued here on Friday. Being at the forefront of other SEZs in Pakistan, KPEZDMC is very keen on launching Rashakai prioritized SEZ creating thousands of jobs and bringing millions of dollars of investment in KP, he added.
The Chinese government has invited Prime Minister Imran Khan to attend the China International Import Expo in November. Pakistan is the guest of honor at the conference to be attended by members of the Belt and Road Initiative.
The Expo offers a chance for global manufacturers and producers to showcase their products in order to gain access to China’s market.
Over 150,000 purchasing agents have registered for the Expo. The Prime Minister will also meet CEOs of large corporations and invite them to invest in Pakistan during his visit to China.
Development of Small Economic Zones (SEZs) is part of the main China Pakistan Economic Corridor (CPEC) agreement and will become part of the Industrial Framework Agreement to be signed during the PM’s trip. China and Pakistan have agreed to establish several SEZs across Pakistan.
Rashakai SEZ is in the advanced stages of development, he concluded.