The Sindh government is developing two special economic zones in Karachi to facilitate Chinese investors setting up various industries in collaboration with local businessmen.
This was stated by Syed Nasir Hussain Shah, Minister of Energy, Regional Planning and Development, on Saturday. Speaking as the chief guest on Saturday at the 10th International Beauty, Fitness and Consumer Health Exhibition at Expo Center Karachi, the regional minister highlighted that several industries are being set up in Karachi, the commercial hub of the country, mainly due to shifts in the global economy. China’s trade policies
Many countries are planning to end direct imports from China, but Chinese products can still be imported indirectly through other countries, especially from Pakistan, which will be the preferred destination for importers and exporters given the emerging trade opportunities.
Nasir Hussain Shah urged Pakistani businessmen to cooperate with their Chinese counterparts to attract investment in various sectors and promote exports under the “Made in Pakistan” label. He further stated that the Sindh government is actively working with various industrial estates in Karachi to develop their infrastructure in line with the set plans and requirements. He stressed that these regions have been empowered with financial and administrative independence so that they can establish themselves in a sustainable manner.
Highlighting the province’s achievements in the field of energy, Nasir Hussain Shah said that the government has achieved an important achievement in power generation. A significantly lower tariff of 3.5 cents per unit has been approved for the planned solar park, which is set to provide affordable electricity to the people of Karachi and Sindh in various phases. The provincial government is also working to enable local governments in Sindh to provide relief to the masses.
He added that it is expected that a draft law addressing this will be passed in the Governorate Council based on the directives of the party leadership. Nasir Hussain Shah pointed out that the participation of foreign delegations in the four-day exhibition reflects the positive developments witnessed by the country, especially with the inflows of foreign investments.
On this occasion, Executive Director of the e-commerce portal Muhammad Uzair Nizam noted that the participation of foreign and local delegates and businessmen shows Pakistan’s positive image on the global stage and attracts traders, investors and tourists to the country.
He also pointed out that commercial and economic activities are evolving from traditional sectors to emerging industries such as beauty, fitness and consumer health. These sectors create great opportunities for investment and employment at both the global and local levels.
More than 2,000 famous brands and 350 companies from seven countries are participating in the exhibition, including the United States of America, China, Korea, Iran, Turkey and Indonesia. The exhibition is expected to attract 40,000 visitors and generate $20 million in revenue through service exports, business-to-business deals, sponsorship and tourism-related activities.
The event aims to provide a platform to stakeholders, experts and consumers in the emerging healthcare, fitness and wellness sectors in Pakistan. It also seeks to introduce new trends and innovations in the field of beauty to the Pakistani audience, thus enhancing the country’s global presence in these industries.