Investors In Singapore Invited to Establish Industries in Special Economic Zones

On Thursday, retired Lt Gen Asim Saleem Bajwa, Chairman of the China-Pakistan Economic Corridor Authority, urged Singapore investors to take advantage of the great potential in the newly established Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC). He added as a keynote speaker at a webinar on investment potential in SEZs developed under the CPEC plan, “I welcome you to come in here for the win-win chance because we have a vast young human resource and a cheaper labor force.

The Pakistan High Commission and the Chinese Embassy in Singapore collaborated on the event. He stated that Singapore could serve as a model for Pakistan’s economic development. The Pakistani government wished to tap into Singaporean investors’ knowledge, particularly in research, technology, and industrialization.

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Speaking about the megaproject’s importance and accomplishments, the chairman emphasized that CPEC was a lifeline for Pakistan. The first phase, he claimed, was virtually finished and was aimed at bridging the country’s energy and infrastructure deficiencies.

“With a range of industries including industrialization, tourism, research and technology, and agriculture, we are now heading towards the second phase of CPEC,” he continued. He added 37 SEZs in Pakistan, with nine being prioritized and four being shortlisted as the most essential.