Two Special Economic Zones (SEZs) have been launched at Pir Phato, Thatta and Padshahan, Chakwal districts by the Dynamic Engineering and Automation (DEA).
A privately owned engineering servicing, the Dynamic Engineering and Automation (DEA) has launched two Special Economic Zones (SEZs) at Pir Phato, Thatta and Padshahan, Chakwal districts. The development concludes discussions with Chinese investors and companies in order to establish global service centres, manufacturing facilities, R&D labs and sales centers with an estimated investment of $5 to $7 billion. China Urban-Rural Holding Group will prepare the master layout of SEZs.
DEA CEO Owais Mir said on Wednesday that many multi-billion Chinese companies have already confirmed their investment plans in the two Special Economic Zones which have been launched in order to promote Foreign Direct Investment (FDI) under the vision of Prime Minister Imran Khan.
“We have signed agreements with Shenyang Biotech Group, Neusoft Medical Systems, HE Vision Group, Lovol Heavy Industries, Wondfu Medical, Kaper Technologies, Green Agrotech, Shenglin Metallurgical Group, Red Crown Intelligent Technology, Shanghai Rich Tai Industries, and Dandong automation to act as the local partners and facilitators,” he told the media.
The Chinese investors will establish industries in the medical sector, agriculture, and farming metals recycling, automobile, including EV, paper recycling, paint, marbles, renewable energy, artificial intelligence in the SEZs.
The partnership formalization through these MoUs to establish several projects was already being made from both sides. Now the key milestone for both countries in their long-term relationship was to make public after extensive assessment and identifying the core competencies and strong collaborations between them.
“These initiatives would generate employment and business activities in the henceforth neglected rural areas,” Mir added.
The DEA is collaborating with HE Vision China so that a state-of-the-art eye hospital may be built which will be fully equipped with advanced technology. The main aim to build such a hospital was to provide eye treatments for free and checkups in the less privileged poor areas.
This project will fall under the classification of the CPEC Healthcare Sector in Pakistan under the “BRI Belt and Road” initiative.