Sindh to build China-backed special economic zone to attract $3bn investment
Business
Memorandum of understanding signed
KARACHI (Web Desk) - Sindh government on Saturday announced the establishment of a special economic zone after signing of a memorandum of understanding supported by Chinese authorities, projecting the initiative to transform economy by attracting $3 billion in investment and creating over 100,000 jobs.
The announcement is part of the second phase of the China-Pakistan Economic Corridor (CPEC), which aims to enhance industrial development by setting up such economic zones. The first CPEC phase focused on infrastructure and energy projects, while the second phase emphasizes industrial collaboration between the two countries.
The Dhabeji Special Economic Zone (SEZ), which is being developed under public-private partnership by the Sindh administration, is strategically located near Karachi’s ports, offering connectivity to regional trade routes to position it as a vital industrial hub.
“The Dhabeji SEZ is set to transform Pakistan’s economic landscape,” Sindh Chief Minister Syed Murad Ali Shah said, according to an official statement released after the MoU signing.
He added the project would stimulate industrial growth, reduce reliance on imports, boost exports and create a self-reliant and sustainable economy.
Special Assistant to the CM on Investment, Syed Qassim Naveed Qamar, also highlighted the SEZ’s transformative potential.
“This SEZ will create over 100,000 direct and indirect jobs, promote value-added industries and empower local communities through skills development.”
The MoU signing ceremony was also attended by members of the Sindh Cabinet, senior officials and other dignitaries.
