From Business Correspondent
FAISALABAD: President Faisalabad Chamber of Commerce and Industry (FCCI) Syed Zia Alumdar Hussain yesterday said the second phase of the China-Pakistan Economic Corridor (CPEC) had been launched with the establishment of special economic zones.
A strategy should be evolved to encourage joint ventures to ensure technology transfer from China, he added.
He was talking to a three-member delegation of China Road & Bridge Corporation (CRBC) that had been developing and marketing Rashakai and Hathar Special Economic Zones here yesterday.
Alumdar Hussain said that M3 Industrial Estate in Faisalabad had already been declared Special Economic Zone under the CPEC. “This project is sprawling over 4,500 acers of land which has already been sold out”, he said and added that FIEDMC (Faisalabad Industrial Estate Development & Management Company) was now planning to acquire another 3,000 acers of land for the second phase of M3 industrial Estate.
He said that M3 Industrial Estate was strategically located along M3 motorway while Lahore-Karachi motorway of CPEC was also just within a half an hour drive. The industrial surplus produced in this estate could easily be exported to Karachi, Gwadar, China and to the landlocked Central Asians State through reliable connectivity.