China welcomes third party participation in CPEC: Nong Rong

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Our Correspondent
Peshawar

Chinese Ambassador in Pakistan Nong Rong on Thursday said that China welcomed the participation of third parties in the China Pakistan Economic Corridor (CPEC) that would further strengthen the mega project.

Addressing the CPEC Industrial Cooperation Investment Conference here, the envoy invited the investors from across the world to invest in the Special Economic Zones (SEZs) being established under the CPEC.

“The Chinese embassy wants to work closely with BOI and any third party to promote development of CPEC, he added. The event was organised by Federal Board of Investment (BoI)

. Nong Rong said in Rashakai SEZ, both Pakistan and China were mutually working to ensure security, visa facilitation, and other infrastructure facilities.

Chairman BOI Atif Bukhari said the second phase of the CPEC had just commenced and the Federal BOI would continue to take lead on investment promotion, facilitation, and industrial cooperation.

The BOI Chairman invited the business community from not only China but also from other countries to come and invest in Pakistan’s economic sectors.

He said the government had already launched conducive policies such as electric vehicle policy, mobile manufacturing, construction sector policies, sole enterprise Special Economic Zone, Regulations 2020, and SEZ Zone Enterprise Admin and Sale/Lease/Sub-lease of Plot Regulations 2021, to increase investment in Pakistan.

“Pakistan accords top priority to the development of Special Economic Zones under CPEC,” he said adding that currently, out of the nine CPEC SEZs, two were in advance stage of development including Rashakai SEZ in Khyber Pakhtunkhwa and Allama Iqbal Industrial City in Faisalabad, Punjab.

Bukhari informed that attractive fiscal incentives were being offered under SEZs such as 10-year tax holiday and custom duty exemption on import of Capital Goods to both the developer and enterprises housed in the SEZs.

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