Board of Investment (BoI) the premier investment promotion agency of Pakistan working under the administrative control of the Prime Minister’s Office and mandated to promote and facilitate both local & foreign investment is considering the establishment of Smart Special Economic Zones (SEZs) under China-Pakistan Economic Corridor (CPEC).
The Smart SEZs aim to facilitate and promote Pharmaceutical, health, and Artificial Intelligence (AI) industries in the country.
The establishment of such Smart SEZs will require certain amendments in the SEZs Act, 2012, to extend incentives to such Smart SEZs. According to sources joint ventures between Pakistan and China will be the key feature for all Smart SEZs.
Up till now nine sites across Pakistan have been identified for the development of the SEZs.
The government of Pakistan has given top priority for the establishment of three SEZs in Pakistan, which have been developed to an advanced stage including Rashakai SEZ in Khyber-Pakhtunkhwa, M-3 Allama Iqbal SEZ in Punjab, and Dhabeji SEZ in Sindh.