ISLAMABAD: The number of approved special economic zones has surged dramatically from seven to 44 in the second phase of China-Pakistan Economic Corridor (CPEC), including notification of 37 new SEZs through coordinated efforts led by the Board of Investment (BoI).

The increase in approval rate was revealed on Friday during a briefing on Pakistan’s engagement with China under the second phase of CPEC, with particular focus on SEZ-led industrialisation and Pakistan-China business-to-business (B2B) cooperation, which form the backbone of the upgraded CPEC framework.

The BoI serves as the lead Pakistani agency for the Joint Working Group (JWG) on Industrial Cooperation, with China’s National Development and Reform Commission (NDRC) as the counterpart lead agency. Since its inception, Project Management Unit of the CPEC-Industrial Cooperation Development Project (PMU CPEC-ICDP) has played a pivotal role in revitalising Pakistan’s SEZ framework.

Minister for Board of Investment, Qaiser Ahmed Sheikh, visited to the Project Management Unit of the CPEC Industrial Cooperation Development Project (PMU CPEC-ICDP) at the Board of Investment, Islamabad, to review progress on industrial cooperation and the development of SEZs under CPEC Phase-II.

Key achievements highlighted during the briefing included progress on the Karachi Industrial Park (KIP), development initiatives for the Gilgit-Baltistan SEZ, and the approval of the Land Lease Policy for Bin Qasim Industrial Park (BQIP), which has addressed a longstanding structural bottleneck for investors.

The minister was also informed of BoI’s facilitation in ensuring the provision of utilities to SEZs, enabling their transition from planning stages to operational readiness.

It was explained during the briefing that the long-term plan for CPEC Industrial Cooperation has been finalised and it is being implemented through a structured Action Plan aligned with the transition towards CPEC, dubbed ‘CPEC Phase 2.0’, emphasising industry-led growth, export-oriented manufacturing, technology transfer, and value addition, with SEZs serving as anchor platforms.

The alignment of CPEC Industrial Cooperation with the government’s “Uraan Pakistan” 5Es Framework was also highlighted, particularly in advancing exports, enhancing competitiveness, and promoting sustainable economic development through joint-venture-based industrialisation.

Mr Sheikh was further informed that 2026 will mark the 75th anniversary of diplomatic relations between Pakistan and China, and that PMU CPEC-ICDP has planned a series of commemorative and investment-focused initiatives during the year to further deepen bilateral industrial cooperation.

The BOI reaffirmed its strong commitment to proactive investor facilitation, policy coordination, and effective implementation of the second phase of CPEC industrial cooperation initiatives, and it will continue to work closely with all federal and provincial stakeholders to ensure a predictable, transparent, and investor-friendly environment for domestic and foreign investors.

The briefing underscored BOI’s structured approach to investment promotion and investor outreach, particularly with Chinese enterprises.

Published in Dawn, January 17th, 2026