ISLAMABAD – Rashakai Special Economic Zone (RSEZ) is considered a land of opportunity that would not only bring employment opportunities for common people but also will change the destiny of the region, said Hassan Daud Butt, CEO, Khyber Pakhtunkhwa Board of Investment & Trade (KP-BOIT).
“The Rashakai SEZ would be developed under the CPEC located at Nowshera- Mardan Road, around 57km away from Peshawar airport in KP,” said Hassan while talking to China Economic Net Hassan Daud yesterday.
He said that anything that is produced within this SEZ can easily be exported to Afghanistan and through road connectivity from Gwadar, it can be exported to the rest of the world. Therefore, this is a milestone that has been achieved by both Pakistan and China.
A signing ceremony of the development agreement of the Rashakai SEZ was held this month in Islamabad and Hassan Daud had signed the treaty from the Pakistani side. Daud said that the Rashakai special economic zone will create around 200,000 job opportunities and will bring different industries that can do import substitution and bring new technologies.
Daud mentioned this project is within the umbrella of CPEC and Belt and Road Initiative (BRI). This is the first special economic zone that is being developed in a public-private partnership. if this experiment proves to be fruitful, I think many similar special economic zones will follow.
Regarding the question about what kind of incentive Chinese investors would get, Daud told, there are many incentives under the framework of CPEC Special Economic Zone Act 2013; that stipulates industry that is set up in any special economic zones under CPEC would get tax relief for 10 years on import duty and also on income tax for a similar period.