Special Assistant to the Prime Minister on CPEC Affairs Khalid Mansoor said on Monday that the second phase of the China-Pakistan Economic Corridor (CPEC) will be mainly about industrial development and business-to-business collaboration.
The CPEC Authority (CPECA) chairman was briefing the CEOs and representatives of more than 70 Chinese companies on latest developments on the CPEC horizon, numerous business prospects and investment incentives, according to an official statement.
The session was also attended by the Federal Minister for Planning, Development and Special Initiatives Asad Umar, chairman of the Board of Investment (BOI) and the Chinese ambassador in Pakistan. Some Chinese firms participated in the meeting online, via video link.
Briefing the participants on the latest developments with regard to the CPEC, Mansoor hoped that business collaborations would be a hallmark of success of the Phase-II, adding that the second phase of the CPEC aims at enhancing the bilateral cooperation in industrial, technological and agricultural sectors. He also briefed the Chinese firms on CPEC opportunities
Mansoor highlighted that four out of nine Special Economic Zones (SEZs) and the Gwadar Free Zone under the sponsorship of CPEC are now at an advanced stage of development.
“Pakistan offers regionally competitive incentives in SEZs, including 10-year income tax exemption and exemption of customs duty on import of capital goods,” he said, adding that the CPECA is establishing a facilitation centre to provide assistance of all sorts to the CPEC investors.
Minister for Planning and Development Asad Umar encouraged Chinese investors to explore more opportunities for investment in industrial, agricultural, and information technology sectors. He further said that considering the special relationship between Pakistan and China, the government as well as the people of Pakistan would want to see significant investment from China.
Appreciating Pakistan government’s efforts to arrange the event that brought together all the Chinese companies, the Chinese ambassador said Chinese firms would work closely with the CPEC Authority to scale up their business and investment activities in Pakistan.