CPEC change gears-first industrial zone launched
News Report
The CPEC has moved to the next stage ie industrialization. This is huge success for joint Pakistan and China collaboration while working on CPEC phase 1 which was aimed at infrastructure and energy development plants.
In Phase 2 of CPEC, we are moving towards mass industrialization, which will create many jobs in the country and help eradicate poverty, as per briefing by General Saleem Bajwa, and Chairman CPEC authority:
Bajwa said that more economic zones were being established under the CPEC which would bring more investment in Pakistan and provide facilities to the foreign investors.
He said the Chinese group had set up a factory of international standards and was also establishing a Fashion Export Park in Pakistan which would provide employment opportunities to thousands of people in in the country.
The CPEC Authority chairman said that the duration of visa for Chinese investors was being extended from three months to two years and announcement in this regard would be made soon.
It is a new geo-economic experience in the region as many watchers were sceptical that CPEC will not move from its earlier phase of logistical framework.
The first industrial zone in Rashakai will lead to five more such zones across Pakistan. The BRI project is being billed as the biggest economic insitative in the world and CPEC is its first flagship project unfolding in Pakistan. It will revolutionaries Pakistan econony and will link with Chinese economy; it will also boost foreign investment including Chinese private investment.
The main objective is to shift low end of industry's value chain to Pakistan's economic zones. It is really a dream come true for the country.
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