Pakistan has signed a landmark agreement with Chinese and local investors to establish the Dhabeji Special Economic Zone (DSEZ) under the China-Pakistan Economic Corridor (CPEC), marking a significant step in the corridor's second phase of development.

The Special Investment Facilitation Council (SIFC) spearheaded the initiative, which aims to transform the area near Thatta into a major industrial hub. The project, structured under a public-private partnership model, is expected to attract investments worth $3 billion and create more than 100,000 jobs.

Strategically located near Karachi's ports, the DSEZ is positioned to provide optimal access to global trade routes. This geographical advantage is expected to enhance Pakistan's industrial capabilities and boost its export potential.

"The Dhabeji Special Economic Zone represents a crucial milestone in Pakistan-China industrial cooperation," said a senior government official involved in the project, speaking on condition of anonymity as they weren't authorized to comment publicly.

Chinese businesses have expressed keen interest in expanding their presence within the zone, which will focus on promoting industrial development, increasing exports, and fostering economic self-reliance. The project aligns with Pakistan's broader economic recovery efforts and its push toward sustainable development.

The SIFC's involvement underscores the government's commitment to facilitating foreign investment and streamlining the development process. Officials expect the zone to play a vital role in Pakistan's economic transformation by attracting both domestic and international investors.

The development will proceed in phases under CPEC's second stage, with infrastructure development and industrial unit establishment planned according to a comprehensive timeline. Authorities emphasize the project's potential to strengthen Pakistan's manufacturing base and create sustainable economic growth.

Industrial experts note that the success of the Dhabeji SEZ could serve as a model for future economic zones in Pakistan, particularly in terms of public-private partnership implementation and international collaboration.