CPEC an impetus for KPK to become investment and trade hub: CEO KPBOIT
Photo: A blueprint of Rashakai Special Economic Zone in Khyber Pakhtunkhwa Province
PESHAWAR, July 31 (Gwadar Pro) - “The government of Khyber Pakhtunkhwa is taking all measures to make the province an important trans-regional hub of trade and investment, and China-Pakistan Economic Corridor has enhanced its capacity to become an attractive destination for both local and foreign companies,” said Hassan Daud, CEO Khyber Pakhtunkhwa Board of Investment.
Hassan Daud further introduced a few major CPEC projects underway in Khyber Pakhtunkhwa, including Rashakai Special Economic Zone, Suki Kinari Hydel project, Havelian Thakot highway, Chashma Right Bank Canal, Swat expressway and Peshawar to D.I. Khan roads and the Havelian dry port as part of ML-1 Project.
“The implementation of all these projects will bring new opportunities and prosperity to KP,” Hassan noted. “Out of the projects, I am convinced that the SK Hydropower Project will help overcome the energy crisis in Pakistan and the establishment of the Rashakai SEZ will attract a new and unstoppable stream of commercial activities in the region that boost the economic growth.”
Regarding Special Economic Zones, Hassan elaborated that Rashakai SEZ was ready for groundbreaking and Jalozai Economic Zone has been inaugurated. Other SEZs and EZs, including Hattar SEZ Extension (1000 Acres), Daraband D.I Khan SEZ (1500 Acres), Mohmand EZ (350 Acres), Nowshera Extension EZ (77 Acres), Buner EZ, Swat EZ, Chitral EZ, Shahkas (KPEC Route) and Ghazi EZ are in the pipeline.
To fully leverage the potentials of the SEZs in attracting foreign investments, Hassan said, the KP government has been dedicated to improving Ease of Doing Business in the province, launching various activities and regulatory modernization initiatives. For instance, an EODB cell, digitally connected with concerned Federal and Provincial Departments, has been established to achieve this goal. In addition, a mapping of 68 different types of regulations (Licenses, Permits, NoCs, Registrations, Taxes, etc.) across 16 different departments of the province and reforms has also been successfully completed to streamline the business processes for both local and foreign investors.
In terms of export, Hassan said, metallic and non-metallic minerals including copper, chromite, nephrite, placer gold, marble and granite; and precious gemstones like emerald, ruby, and topaz are abundant in KP, and the locals wish to boost the export of these raw materials to other countries including China. In addition, agricultural products including fruits vegetables, dry fruits, medicinal herbs, and dairy products in KP are also competitive for export and some have already entered into the Chinese market.
Photo: Lake Saiful Muluk in Kaghan Valley, Khyber Pakhtunkhwa
Tourism in KP is another key sector. As per CEO KPBOIT, KP Government has identified Integrated Tourism Zones in four areas, i.e. Madaklasht Lower Chitral, Thandiani Abbottabad, Mankyal Swat, and Ghanool Mansehra, and they are waiting for adventurers around the world to explore.