Rawalpindi Chamber Of Commerce And Industry Urged Govt To Expedite Work On CPEC Economic Zones

The Rawalpindi Chamber of Commerce and Industry (RCCI) Wednesday urged the government to expedite process and working on CPEC's Special Economic Zones (SEZ).

RAWALPINDI, (UrduPoint / Pakistan Point News - 12th Dec, 2018 ) :The Rawalpindi Chamber of Commerce and Industry (RCCI) Wednesday urged the government to expedite process and working on CPEC's Special Economic Zones (SEZ).

President RCCI Malik Shahid Saleem in a statement said that the upcoming industrial framework agreement with China would help to move forward with relocation of Chinese industries and large scale investment in Pakistan.

However, he urged upon the Ministry of Planning that the industrial parks should be developed aligned with local available resources.

The RCCI president said, "We recognize CPEC as a game changer and urged the government to focus on the 4th part of CPEC plan, which is Industrial Zones Development." He said that the CPEC was the flagship project of multi-billion Dollar "One belt one road" (OBOR) and the success of the key mega project would bring an economic revolution in the country and the region.

However, the agreements must be followed by the land of law and benefit of Pakistani trader, investors, and industrialists must be kept on priority.

The joint ventures between Chinese and Pakistani companies will increase the ownership of the key stakeholders, he added.

The more we have local ownership in the projects the more it will be successful.

Malik Shahid Saleem also referred that RCCI recently signed a memorandum of understanding with China Road and Bridge Corporation (CRBC) for exploring the investment opportunities existing in Rashakai Special Industrial Zones aimed at promoting Rashakai SEZ among its members, strengthening the information through exchange of delegations and using RCCI platform in expansion of business in Rashakai SEZ by holding joint exhibitions, seminars and symposiums.

He said Pakistan's economy offered great potential to Chinese investors for joint ventures and investments,adding CPEC would be mutually beneficial for Pakistan and China and would ensure level playing field for the businessmen and investors of both countries.

SEZ will help Pakistan to improve its GDP, poverty alleviation and unemployment, he added.

RCCI Chief urged both Pakistani and Chinese governments to work hard in completing all projects within stipulated time frame.