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Successful SEZs key to economic development: ADB

Updated February 21, 2019

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An ADB official says the CPEC and CAREC are in full swing that make the need for SEZs paramount in Pakistan.— Reuters/File
An ADB official says the CPEC and CAREC are in full swing that make the need for SEZs paramount in Pakistan.— Reuters/File

ISLAMABAD: The Asian Development Bank (ADB) stands ready to help develop Pakistan’s special economic zones (SEZs) to utilise full potential of the country’s geo-strategic location, said ADB’s Country Director Xiaohong Yang while speaking at the stakeholder consultation on SEZ development on Wednesday.

Highlighting the need for fast-track development of evidence-based SEZs, she said that this is the right time for Pakistan to develop these zones to transform the economy into a dynamic, vibrant and integrated production system and market with strong regional and global linkages.

Ms Yang highlighted that the China-Pakistan Economic Corridor (CPEC) and Central Asia Regional Economic Cooperation were in full swing that make the need for SEZs, as part of economic corridor development, paramount in Pakistan. The SEZs will help transform these road corridors into true economic zones to revive, diversify and sustain the export-oriented manufacturing sector to generate jobs and prosperity for all, she added.

Published in Dawn, February 21st, 2019