SMEDA formulates strategy for exploiting potentials of CPEC

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Sialkot—The Small and Medium Enterprises Development Authority (Smeda) has formulated a strategy for exploiting potentials of the China Pakistan Economic Corridor (CPEC). This was said by General Manager Out Reach Smeda Alamgir Chaudhry while talking to APP here on Sunday. The CPEC offered an immense opportunities of economic growth in the country and the SME sector in China and Pakistan had a significant share in terms of contribution of GDP, employment and exports, he said.
He said the Smeda in consultation with the private sector and other institutional stakeholders had developed a five-year SME development plan. The plan envisages exponential growth of key emerging and conventional SME sectors to GDP and exports, he said and addd the plan builds on key game changing drives across SME value chains, related infrastructure, policy and environment besides developing an entrepreneurial ecosystem focusing on access to finance, youth and women cohort of society.
Alamgir Chaudhry said keeping in view importance of the CPEC for development of Pakistan in general and SMEs in particular, Smeda had prepared a detailed report highlighting the avenues of investment by China and Pakistan. The Smeda in its report had identified sectors in which business related investments could be made by the Chinese businesses, he said. He said a total of 13 sectors had been identified for investment and development and these sectors had also been addressed in the Smeda SME Development Plan which was part of Pakistan Vision 2025. The priority sectors were logistic, ICT and allied services, gems and jewellery, horticulture, construction, fisheries, energy, dairy and livestock, engineering, mineral, leather, tourism, textile made ups and apparel, he added.—APP