Pakistan government exempts Chinese Investors from seeking 37 NOCs under SEZ projects
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ISLAMABAD – Pakistani officials have spared Chinese investors from taking long approvals before launching any project in special economic zones under China-Pakistan Economic Corridor (CPEC).
Reports in local media said Islamabad makes the move as both countries agreed to move forward with the second phase of the multibillion-dollar project. It comes days after Prime Minister’s visit to Beijing,
Khan, during his four-day visit, held meetings with state-owned companies in Beijing and exchange words on investment opportunities. He held around 20 meetings with representatives of nearly 500 Chinese firms to help bring investment to the country.
PM’s special advisor on CPEC Khalid Mansoor said Chinese companies have been facilitated with compliance regime and they are not required to obtain no-objection certificates from 37 different departments before launching any investment project in the SEZs.
CPEC Authority provides a one-window facility to Chinese investors. If their issues still remain unresolved, then the PM House is there to address the issues, he said.
During the back-to-back meetings, Khan highlighted investment opportunities in textile, pharmaceutical, footwear, information technology, cottage industry, and agriculture sectors in Pakistan.
Mansoor also mentioned that during the Phase-I of CPEC, out of $53 billion, investments of $25 billion were materialized whereas [those of] $28 billion were under consideration.
Meanwhile, Chinese companies would help set up a steel and metal recycling plant in Gwadar within three years under Phase-2, which would produce metals worth $4.5 billion for exports besides creating 40,000 jobs.
Pakistan has received commitments from China for getting investments for various sectors for establishing industrial units in the Special Economic Zones.
