Chinese firms briefed on CPEC opportunities

The government on Monday hosted a marketing session for about 70 Chinese companies as it seeks to trigger the second phase — industrial development — of the China-Pakistan Economic Corridor (CPEC).

CPEC Authority (CPECA) chairman Khalid Mansoor briefed the chief executive officers and representatives of the Chinese companies on latest developments on the CPEC horizon, various business opportunities and incentives for investment.

Minister for Planning and Development Asad Umar, the Board of Investment chairman and Chinese ambassador in Islamabad also attended the session. Some Chinese companies joined it through video link.

Mr Mansoor told the Chinese companies that phase-II of the CPEC was aimed at enhancing bilateral cooperation in industrial, technological and agricultural sectors for which business-to-business collaboration would be a hallmark of success and opportunities, according to an official statement.

He highlighted that four out of the nine agreed on special economic zones (SEZs) along with Gwadar Free Zone under the auspices of CPEC were now at an advanced stage of development and investors had started populating these SEZs.

“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 was setting up a facilitation centre to provide all kinds of support to the CPEC investors. This will be a platform for serving as one-window operation for the investors through coordination with various ministries as well as the provinces.