President of Pak-China Joint Chamber of Commerce and Industry (PCJCCI) Shah Faisal Afridi on Friday said special economic zones on the pattern of China can bring industrial revolution in Pakistan.
While talking to a trade delegation from the Qingdao Commerce Bureau, China, here on Friday, Afridi said, "Pakistan is in a dire need of establishing the maximum number of special economic zones to tackle economic challenges being faced by the country since decades. The proposed SEZs on the pattern of China will strengthen the industrial base besides protecting the national economy from global financial recessions, thus enabling the government to use its resources at the targeted industrial areas."
He also said measures should be taken for creation of the zones on the Chinese style. "For attracting foreign direct investment, Pakistan must improve its internal security situation and promote cultural flexibility for assimilation of foreign investors," he added.
A latest World Bank report on these zones said, "As per estimates, there are approximately 3,000 zones in 135 countries today, accounting for over 68 million direct jobs and over US 500 billion dollars of direct trade-related value added within zones." He acknowledged that the Haier Ruba Special Economic Zone had faced challenging situation related to power, energy, law and order but still it is one and the only zone of its type in the country giving fruitful returns to the economy. He also admitted that the delegation had come with concrete proposals with reference to these zones.
Zhang Li, delegation chief said on the occasion that Haier was the first joint venture project of China and the expansion and development of Haier Ruba SEZ is on top priority list of Chinese government.
Zhang Li mentioned that SEZs play an instrumental role in the integration of China to the global economy and in its economic development. She informed that in China SEZs contribute to 20 percent of the total FDI. The delegates also visited the Haier Ruba Zone where they were informed that currently Haier-Ruba SEZ was covering wide variety of industrial sectors including electric appliances, power and energy, textile, furniture sector, software and technology and food processing. The Chinese delegation was assisted by the PCJCCI in arranging meetings with Punjab Industrial Estates Development and Management Company.
The delegation also visited Quaid-e-Azam Apparel Park that is working under the auspices of the management. The delegation which headed by Zhang Li, Deputy Director General of Qingdao Commerce Bureau, also included Sun Guoliang, vice general manager, Qingdao Huatong state-owned Capital Operation (Group) Co Ltd, Wang Da, President Qingdao Laoshan Mineral Water Co Ltd, Yuan Dezhao, Division Director Qingdao City Construction Investment Group Ltd.
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