KARACHI : Construction of a worthwhile Japan Special Economic Zone (JSEZ) is at stake as Japan is showing apathetic attitude to invest for the project. Sources told Business Recorder on Saturday that Japan had announced to commence construction of the JSEZ with an initial investment of $5 billion, in September.
But after lapse of several months, the Japanese authority has not taken any positive measure, causing its vague prospect. They said the government of Pakistan has assured its full support to Japanese entrepreneurs in its construction at a meeting in May 2009 in Tokyo, and allocated some 2000 acres land for the purpose at Dhabeji, 17 km far from Pakistan Steel Mill.
They said: "Although the Sindh government has started working on the proposal of providing all utilities except electricity at JSEZ, the Japanese authority has shown indifference in this regard". Sources dispelled security concerns as major hurdle in its commencement, saying that the zone had planned to have its security arrangements, shopping areas, Japanese restaurants, recreation spots, parks, health and sports activities so as to have self-sufficient Japanese village.
Moreover, they said, Pakistan had offered best incentives for investment including 100 percent equity, free flow of money with remittance of royalty and technical fee to attract Japanese investors and several manufacturing units including Suzuki, Sony, Yamaha and Marubeni are interested to establish their units in the JSEZ. But the concerned authority in this connection is still waiting for a positive response from Japan.
Copyright Business Recorder, 2010
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