[photopress:zone_Haeir_ruba.jpg,full,alignright]In Pakistan a Chinese Special Economic Zone is established as a Haier—Ruba joint project. Prime Minister Syed Yousuf Raza Gilani said Pakistan would extend all possible help to establish the first-ever Chinese Overseas Economic Zone in the country. He welcomed the Haier Ruba joint venture and said the government would encourage more joint ventures to promote economic cooperation between the two countries.
Talking to Lu Keng, chairman of the Haier Group and Haji Koch Muhammad, chairman Ruba Group at PM House, he said joint ventures between the private sectors was the best way to promote trade and investment between the two countries.
He said foreign investment was fully protected in Pakistan and all economic sectors were open to Foreign Direct Investment.
Lu Keng said Chinese entrepreneurs were keen to invest in Pakistan and the establishment of the Special Economic Zone (SEZ) would go a long way in facilitating Chinese investment in Pakistan.
[photopress:zone_Haeir_ruba2.jpg,full,alignleft]He said the Haier Ruba has already brought in initial investment of $35 million. The SEZ will conists of an industrial park, science and technology parks, supply chain industry, skill development center and research and development center.
SEZ is being established under the Free Trade Agreement (FTA) between Pakistan and China and all goods manufactured in this zone have tariff-free entry into the Chinese market.
Source: Pakistan Daily Times