A total of seven enterprises have applied to join the Rashakai special economic zone (SEZ), under the China-Pakistan Economic Corridor (CPEC).
These enterprises come from construction materials, steel, chemical engineering and auto spare parts, according to the Chinese developer China Road and Bridge Corporation (CRBC).
Their applications will be reviewed by the SEZ committee, including BOI, provincial government of Khyber Pakhtunkhwa, CRBC and Khyber Pakhtunkhwa Economic Zone Development Management Company (KPEZDM).
CRBC said the online application is open now. Various favorable policies in accordance with the Special Economic Zones Act 2016 will be offered to enterprises to operate in Rashakai SEZ.
Prime Minister Imran Khan said the Rashakai SEZ and others of the kind would help attract Chinese industries to relocate in Pakistan. So far, a Chinese steel enterprise has started ground work in Rashakai SEZ.
In addition, this SEZ will create more than 20,000 job opportunities for the locals, according to Javed Khattak, a senior official from KPEZDM.
Rashakai SEZ is also expected to become a trade transfer station and base for industrial capacity cooperation between China and Central Asia and Western Asia.
Rashakai SEZ is one of the nine SEZs prioritized under the framework of CPEC.
Source: China Economic Net