Lahore, January 08, 2016 (PPI-OT): There is vast scope of shifting industrial production facilities from China’s economic hub ‘Qingdao to Punjab”. It was observed by a 12 member Chinese Delegation headed by Mr. Li Qun Party Secretary of CPC Qingdao Committee in a meeting with Mr. Shah Faisal Afridi, President Pak-China Joint Chamber of Commerce and Industry and CEO Haier Ruba Special economic zone. The other members of the delegation included Mr. Wang Luming Secretary General of CPC Qingdao Committee, Mr. Cui Weidong Director General of Qingdao Municipal Foreign Affairs Office, Mr. Ma Weigang Director General of Qingdao Municipal Bureau of Commerce and Ms. Chen Xuanyi Deputy Division Chief of Qingdao Municipal Foreign Affairs Office.
Mr. Shah Faisal Afridi, while delivering address of welcome to the delegation told that special economic zones (SEZs) can be an effective instrument to aggravate industrial revolution in Pakistan, if implemented properly in the right context.
Haier Ruba Special Economic Zones was one of its types in the country giving fruitful returns to the national economy. He said that the new Special Economic Zones to be facilitated by the government of Punjab would prove to be fate changer for people of the province. He mentioned that SEZs confer many benefits, such as employment generation, export growth, government revenues, and foreign exchange earnings, skills upgrading, technology transfer and innovation, economic diversification and productivity enhancement of local firms.
Shah Faisal Afridi appreciated the move of delegation to bolster Province-Province integrated SEZ’s. He said that to make this truly successful, the host governments and investors need more mutual understanding of the difference of development stages, legal and governance systems, institutions, social norms, cultures and even mindsets.
Leader of the Chinese Delegation Mr. Li Qun, during his address, said that administration of Qingdao Commerce Bureau was keen to promote Province-Province integration between both the countries, which could be materialized through establishment of special economic zones through joint ventures. He told that, China is one of the most successful countries in terms of leveraging SEZs to achieve far-reaching economic transformations. It started with four zones at the initial stage to experiment with market oriented economic reforms which involves laws, regulations, taxation, land, labor, finance, customs and immigrations.
He told that together with the numerous industrial clusters, the SEZs have contributed significantly to national GDP, employment, exports, and attraction of FDIs. It was estimated that in recent years, SEZs at national level accounted for about 22% of national GDP, 46% of FDI(foreign direct investment), and 60% of exports and generated in excess of 30 million jobs. He also said that the SEZs have also played important roles in bringing new technologies to China and in adopting modern management practices. Special economic zones (SEZ) had played an instrumental role economic in the development of China as well as its integration to the global economy.
He told that special economic zones are working successfully and Qingdao Commerce Bureau wanted to establish new SEZs in Punjab especially in the areas of urban and rural infrastructure, construction, home appliances, IT and digital products, logistics, real estate, biopharmaceuticals, refrigerator, electric bicycle, automatic vending machine, new energy electrical tool vehicle, power plants including thermal, nuclear, gas, hydro, wind, transformer substation, biomass, photovoltaic, and solar energy sectors.
At the end Mr. Shah Faisal Afridi thanked the Qingdao Commerce Bureau to visit Pakistan with such an important move. He hoped the proposal would be highly beneficial for the people of Punjab by generating new employments. Whereas, the Chinese Companies will be able to have productive labor on competitive cost, he added.
For more information, contact:
Wardah Ali Gohar
Pakistan China Joint Chamber of Commerce and Industry (PCJCCI)
Mega Tower, 309 – 6th Floor,
Main Boulevard, Gulberg II,
Lahore, Punjab – Pakistan
Tel: +92-42-35777460-02, +92-42-37032203, +92-42-35874353