KP CM inaugurates Phase-I of Rashakai Special Economic Zone

F.P. Report

PESHAWAR: Caretaker Chief Minister Khyber Pakhtunkhwa, Muhammad Azam Khan inaugurated Phase-I of the Rashakai Special Economic Zone, marking a significant milestone in China Pakistan Economic Corridor (CPEC) here on Friday.

The Rashakai Special Economic Zone, strategically located at the nexus of economic growth, stands as a testament to the strong partnership between Pakistan and China. CPEC has become a symbol of friendship between the countries and a model for cooperation between developing countries.

Addressing the gathering, the Chief Minister appreciated the exceptional efforts and unwavering commitment of China Road and Bridge Corporation (CRBC) and Khyber Pakhtunkhwa Economic Zones Development & Management Company (KPEZDMC) for successfully completing Phase -I of the project six months before the completion date.

The chief minister thanked the government of China, the companies involved and public sector entities for their unflinching support to the project and all those who contributed to the completion Phase -I Rashakai SEZ. Encompassing 247 acres of modern facilities designed to attract domestic and foreign investors, Phase I of the Rashakai SEZ promises to spur economic growth and job creation, further strengthening Pakistan-China cooperation and bilateral relations under the umbrella of CPEC. Presently, Phase- I houses 18 zone enterprises, with 07 under construction; mobilizing an estimated investment of Rs. 85 billion.

As the Rashakai SEZ takes its place on the path to becoming a catalyst for regional prosperity, creating employment opportunities for the local population, and attracting foreign direct investment, plans are already underway for the subsequent phase.

These forthcoming endeavors will focus on expanding infrastructure, streamlining business processes, and attracting key industries, unlocking the SEZ’s full potential, as part of the ongoing decade of CPEC. The commemorative ceremony attended by the Secretary Federal Board of Investment, Chief Secretary KP, GM CRBC, CEO KPEZDMC and other dignitaries culminated with a resounding commitment from both Pakistan and China to maintain close collaboration, ensuring the successful realization of the Rashakai SEZ’s goals and objectives in the continued decade of CPEC.