Staff Reporter Islamabad
China Pakistan Economic Corridor (CPEC) has already entered a crucial sec-ond phase in which cooperation in indus-trial development is vital to stimulate eco-nomic and employment opportunities in Pakistan besides making the country a regional trade hub.
Though COVID has devastated global economy however Pakistan showed better economic indicators and industrial devel-opment during the fiscal year 2020-21.
The provincial government of Khyber Pakhtunkhwa is making all-out efforts to materialize the special economic zones initiative to attract local and foreign com-panies for investment through offering them incentives and facilities.
After 18th Constitutional Amendment, provinces are fully empowered to develop the special economic zone and have bet-ter coordination with foreign companies.
In past there were difficult and diverse procedures for the foreign investors to in-vest in the country but recently the KP Government established KP Economic Zone Development and Management Company (KPEZDMC) to ease the proce-dure and facilitate the investors.
