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Transport in Pakistan is extensive and varied, and serves a population of over 240 million people. In recent years, new national highways have been built, with the addition of motorways which have improved trade and logistics within the country. Pakistan's rail network owned by Pakistan Railways is also undergoing expansion in recent years. Airports and seaports have been built with the addition of foreign and domestic funding. Transportation challenges in developing countries like Pakistan are escalating due to poor planning, inadequate governance, and corrupt practices. Consequently, these nations are grappling with a significant crisis in their transportation systems.
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration. To encourage businesses to set up in the zone, financial policies are introduced. These policies typically encompass investing, taxation, trading, quotas, customs and labour regulations. Additionally, companies may be offered tax holidays, where upon establishing themselves in a zone, they are granted a period of lower taxation.
Gwadar is a port city on the southwestern coast of the Pakistani province of Balochistan. The city is located on the shores of the Arabian Sea, opposite Oman and has a population of over 90,000, according to the 2017 census. It was an overseas possession of the Oman from 1783 to 1958. It is about 120 km (75 mi) southwest of Turbat. The sister port city of Chabahar in Iran's Sistan and Baluchestan provinces is about 170 km (110 mi) to the west of Gwadar. On 2 April 2021, it was declared the capital of the south Balochistan region.
An industrial park, also known as industrial estate or trading estate, is an area zoned and planned for the purpose of industrial development. An industrial park can be thought of as a more heavyweight version of a business park or office park, which has offices and light industry, rather than heavy industry. Industrial parks are notable for being relatively simple to build; they often feature speedily erected single-space steel sheds, occasionally in bright colours.
In justifying opening up and the series of economic reforms that ensued in China, Deng Xiaoping referred to Karl Marx and his theories, which predicted that nations need to undergo urbanization and a stage of capitalism for a natural socialist transition. One of the most renowned reforms under Deng was establishing four "special economic zones" along the Southeastern coast of China, with Shenzhen, Shantou, and Zhuhai located in Guangdong province and Xiamen located in Fujian province. The four aforementioned special economic zones were all established from 1980 to 1981. As of 2024, there have been 3 additional special economic zones. In 1988, Hainan became the fifth "SEZ". In 1990, Pudong district in Shanghai became the sixth "SEZ". In 2009, Binhai district in Tianjin became the seventh "SEZ". Special economic zones (SEZs) in mainland China are granted more free market-oriented economic policies and flexible governmental measures by the government of China, compared to the planned economy elsewhere.
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The Islamabad Model Special Economic Zone (IMSEC) is Special Economic Zone situated near Rawat, Islamabad, associated with the China-Pakistan Economic Corridor (CPEC). This represents the initial facility of its kind in the federal capital. It was inaugurated on 18 July 2023, with the foundation stone laid by Prime Minister Shehbaz Sharif.
The Rashakai Special Economic Zone is a key initiative within the China-Pakistan Economic Corridor (CPEC) framework. Positioned in Rashakai, Nowshera, Khyber Pakhtunkhwa, it stands as one of the nine special economic zones planned for establishment between 2017 and 2030 as part of the CPEC initiative. Covering an area of around 1,000 acres, the zone's development is organized into three distinct phases.
The Bannu Economic Zone or BEZ constitutes a pivotal component of the China-Pakistan Economic Corridor (CPEC) project. Situated in the region of Bannu, Khyber Pakhtunkhwa, it holds prominence as one of the 17 economic zones designated for creation by the Khyber Pakhtunkhwa Government under the overarching CPEC framework. Commencing with an initial land area encompassing approximately 408 acres, the first phase of the zone's development has successfully concluded.
References
- ↑ "Special Economic Zones | Punjab Board of Investment and Trade". Pbit.gop.pk. 2020-06-30. Retrieved 2023-07-19.
- ↑ "Special Economic Zone Framework in Pakistan | Board Of Investment". invest.gov.pk.
- ↑ "Industrial Cooperation/Special Economic Zones(SEZs) | China-Pakistan Economic Corridor (CPEC) Secretariat Official Website". cpec.gov.pk.
- ↑ Aslam, Hina; Sakib, Maaz; Sandhu, Amna (2019). "CPEC and Special Economic Zones (SEZs)" (PDF). Sezs for Sustainable Development in Pakistan: 4–8. JSTOR resrep24394.5.