‘Groundbreaking of Rashakai economic zone next month’

ISLAMABAD: The meeting of the Pak-China Joint Working Group (JWG) on Industrial Cooperation was held via video conference on Tuesday.

The meeting was co-chaired by Board of Investment Executive Director General Qasim Raza Khan and National Development and Reform Commission of China Deputy Director General Gao Jian, a statement issued by BOI said. Officials from line ministries, provincial governments and various embassies attended the meeting.

Progress on the prioritised CPEC special economic zones, including Rashakai, Dhabeji, Alama Iqbal Industrial City (M3) was reviewed on the occasion.

It was agreed that the groundbreaking of Rashakai SEZ would be performed next month, as the development agreement is in the final stages. The Chinese side also expressed keen interest to participate in the bidding process for Dhabeji SEZ.

Both sides agreed to jointly accelerate the efforts to enhance the level of industrial cooperation by ensuring concentrated efforts with early provision of utilities and allocation of land.

Pakistan and China also agreed to enhance business-to-business linkages, which would help increase the level of investment from Chinese enterprises, enhance industrial competitiveness of businesses in Pakistan, and ensure the transfer of technology, managerial and industrial practices.

Regarding the process of industrial diagnosis of key industries, the Chinese experts informed that the report of the textile industry diagnosis is ready and will be shared by the Chinese side soon.

Both sides also discussed the possibility of up-gradation of Pakistan Steel Mills.

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