INP-WealthPk
China enhances it's support to Pakistan for industrialization under CPEC
October 21, 2020
BEIJING, Oct. 21 (INP): China's efforts to help Pakistan build the CPEC and SEZs are all aimed at helping Pakistan realize industrialization and modernization.
According to a report published by China Economic Net, the construction of SEZs is the enrichment and development of the CPEC
Recently, three new Special Economic Zones (SEZs) are formally approved by the Board of Approvals (BOA), taking the total number to 20.
CEN's Special Commentator Prof. Cheng Xizhong in his analysis said that SEZs will enhance the production and export capacity of industrial products.
Secondly, it will introduce foreign capital, advanced technology and management experience.
Thirdly, it will create a large number of employment opportunities.
Fourthly, it will accelerate the economic development of specific regions and form a new industrial structure and social-economic structure, which will drive the economic development of the whole country.
According to Prof. Cheng, during the four decades of reform and opening up, China has accumulated a lot of successful experience in the construction of SEZs. There are three main points in China-Pak cooperation in this regard.
First of all, China may unreservedly share its experience with Pakistan on SEZ development.
Pakistan may introduce capital, advanced technology and management experience from China.
Chinese industrial enterprises should invest in Pakistan's SEZs and cooperate with Pakistani partners to help improve its production and export capacity of industrial products.
As the development of Pakistan's SEZs is just in the start-up step, it is naturally to encounter various difficulties.
What is urgently needed is to build two or three SEZs first, and then put them into operation immediately, so as to produce economic benefits and demonstration effects.
To realize industrialization and modernization is the only way for Pakistan to eliminate poverty, enhance its position of strength and safeguard its national independence, sovereignty and territorial integrity.
INP/javed
