The recently launched Special Economic Zone (#SEZ) under #China #Pakistan Economic Corridor (#CPEC) in #Faisalabad would create around 70,000 new jobs within a year while it will also absorb as many as 400,000 skilled workers in four years.
According to the estimates of Faisalabad Industrial Development and Management Company (#FIEDMC), more than 400,000 trained employees would be required for different departments in the special economic zones. After successful venture of M-3 Industrial City and Value Addition City under FIEDMC, Allama Iqbal Industrial City, a prioritized Special Economic Zone of CPEC, has turned a centre of attraction for investors across the globe, FIEDMC Chairman Mian Kashif Ashfaq told APP here on Friday.
Approximately, more than Rs 357 billion has been invested in the Zones and the government has announced that all investors would enjoy a 10 years tax holiday and duty free import of plants, machinery, raw material and other equipment. The FIEDMC Chairman informed that for the provision of the skilled manpower, an agreement was in final stage with a German institution GIZ, Fouji Foundation and Punjab Vocational Training Council.
FIEDMC will provide them land where these institutions will set up their training centers. In this regard, FIEDMC is also consulting the industry so that training to be imparted to students in accordance to their future need.