CPEC Phase 2: Economic Zones in Pakistan

Special Economic Zone will be located near a 2,282 acre free trade area in #Gwadar which is being modelled on the lines of the Special Economic Zones of China. The swathe of land was handed to the China Overseas Port Holding Company in November 2015 as part of a 43-year lease, while construction of the project began on 20 June 2016. The special economic zone is expected to employ approximately 40,000 people, with possibility for future expansion.
The special economic zone will include manufacturing zones, logistics hubs, warehouses, and display centres. Business established in the special economic zone will be exempt from Pakistani income, sales, and federal excise taxes for 23 years Contractors and subcontractors associated with China Overseas Port Holding Company will be exempt from such taxes for 20 years,while a 40-year tax holiday will be granted for imports of equipment, materials, plants, machinery, appliances and accessories that are to be for construction of Gwadar Port and special economic zone