December 13, 2018
RAWALPINDI - The Rawalpindi Chamber of Commerce and Industry (RCCI) has urged the government to expedite process and working on CPEC Special Economic Zones.
The Labour-intensive industry from China under China Pakistan Economic Corridor (CPEC) shall be relocated in Pakistan to boost the local employment.
President RCCI Malik Shahid Saleem on Wednesday in a statement also pointed out that the upcoming industrial framework agreement with China would help to move forward with relocation of Chinese industries and large scale investment in Pakistan, he added. However he urged upon ministry of planning that the industrial parks would be developed aligned with local available resources.
The RCCI president said, “We recognize CPEC as a game changer and we urge the government to focus on the 4th part of CPEC plan, which is Industrial Zones Development.” He further said that the CPEC is the flagship project of multi-billion dollar One belt one road (OBOR) and the success of this key mega project will bring the economic revolution in the country and the region. However, the agreements must be followed by the land of law and benefit of Pakistani trader, investors, and industrialists must be kept on priority.
The joint ventures between Chinese and Pakistani companies will increase the ownership of the key stakeholders, he added. The more we have local ownership in the projects the more it will be successful. Malik Shahid Saleem also referred that RCCI recently signed a memorandum of understanding with China Road and Bridge Corporation (CRBC) for exploring the investment opportunities existing in Rashakai Especial Industrial Zones aiming in promoting Rashakai SEZ among its members, strengthening the information through exchange of delegations and using RCCI platform in expansion of business in Rashakai SEZ by holding joint exhibitions, seminars and symposiums.
He said Pakistan’s economy offered great potential to Chinese investors for joint ventures and investments. He said CPEC would be mutually beneficial for Pakistan and China and would ensure level playing field for the businessmen and investors of both countries.
SEZ will help Pakistan to improve its GDP, poverty alleviation and unemployment, he added. RCCI Chief urged both Pakistani and Chinese governments to work hard in completing all projects within stipulated time frame.