Small and Medium Enterprises Development Authority (SMEDA) has formulated a strategy for exploiting the potentials of China-Pakistan Economic Corridor (CPEC) said General Manager out Reach SMEDA Alamgir Chaudhry. The CPEC offers immense opportunities of economic growth in Pakistan and SME sector in both countries (China and Pakistan) holds a significant share in terms of contribution of GDP, employment and exports he said.
Talking to reporters here last evening he said SMEDA in consultation with private sector and other institutional stakeholders has 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. He said 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 further stated that keeping in view the importance of China Pakistan Economic Corridor (CPEC) for the development of Pakistan in general and SMEs in particular, SMEDA has prepared a detailed report highlighting the avenues of investment by China and Pakistan. We have suggested that Cyber cities should be developed in metropolitan areas of CPEC Line Karachi, Lahore, Islamabad and Gwadar to develop independent IT business parks with complete housing, educational, shopping, medical, and other public facilities. Companies will be privy to an advanced Metro Ethernet broadband infrastructure and rang of business enabling services he said.
SMEDA in its report has identified the sectors in which business related investments can be made by the Chinese businesses he said. He revealed that a total of 13 sectors have been identified for investment and development and these sectors have also been addressed in the SMEDA SME Development Plan which is part of Pakistan Vision 2025 and also aligns well with the proposed Long-term Plan of China -Pakistan Economic Corridor.
The priority sectors are 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 disclosed. Alamgir further stated that SMEDA has also prepared the "Mass mapping" identifying the districts situated on the CPEC route along with the investments opportunities available to Chinese investors. In an extended version of this map, the districts located as far as 100 km from the CPEC route have also been mapped for possible investment opportunities. Furthermore, SMEDA is in the process of consultations with other stakeholders to prepare the pre feasibility studies on the identified investment opportunities he said.
Under strategic recommendations the establishment of Export Processing Zones and Special Economic Zones have also been proposed along with alignment of CPEC he said. Alamgir further added that special economic zones should set up for SMEs adding that these zones should be developed on Public Private Partnership with Chinese counterparts in order to provide infrastructure in close proximity to existing industrial hubs, SEZ should be established in Gujranwala near the golden triangle area he added.