Better business environment, infrastructure facilities urged for success of SEZs

ISLAMABAD, Apr 26 (APP):Speakers at a conference on China-Pakistan Economic Corridor’s (CPEC) Special Economic Zones (SEZ) called for better business environment and infrastructure facilities to make these enclaves successful.
They were speaking at a conference organized by Strategic Vision Institute’s (SVI) China Studies and Information Center on ‘Special Economic Zones and Investment Opportunities in CPEC’ here on Thursday.
The conference was held to highlight the importance of SEZ’s for local economy. The conference also looked into the challenges confronting the operationalization of these zones aimed at promoting economic growth and trade, in addition to generating local employment.
Nine SEZs are to be established under CPEC. Work on three zones in Faisalabad (Punjab), Dhabeji (Sindh), and Hattar (KP) had commenced in the first phase of the industrialization part of CPEC.
Economist Dr Salman Shah, who in the past led the finance ministry as adviser and also as a caretaker minister, said these zones should exhibit Pakistan’s effort at improving the business environment in the country at least in those selected enclaves.
He listed the problems that increase difficulties in doing business in the country and ones that need immediate redressal as regulatory regime, legal complications, taxes, inefficient systems and services, logistics, and infrastructure.
“These burdens have to be sorted out on a very fast track basis,” he said adding that the environment should be made conducive for investment. “It is about creating environment where world uses what we have to offer,” he further said.
Dr Shah said at least 100 Chinese should move to Pakistan so that it could be proved that its model was working.
Political Counselor at the Chinese Embassy in Islamabad Jiang Han on the occasion said SZEs are platforms for development and attracting investments. Hard work and a comprehensive design is required for making them successful, he noted.
He said each province of Pakistan has peculiar features, which it should use for maximizing its gains from its own economic zones, he underscored.
Jiang Han also emphasized on making business friendly policies. “If certain policies are not favourable then adjust them according to realities,” he maintained.
President SVI Dr Zafar Iqbal Cheema said CPEC was a “historic” and “unique” opportunity to revive economy. He cautioned that by being “a passive partner”, the huge expectations being attached with the venture would remain unfulfilled.