Rashakai Special Economic Zone will play significant role in luring Foreign Direct Investment in the country.

A spokesperson of Board of Investment Islamabad said the Rashakai SEZ holds unique competitive advantage due to its proximity to first juncture of CPEC route, close location with Peshawar airport and ML-I besides a significant resource and manufacturing base in the entire region.

He said the zone comprises 1000 of acres land and will be developed in three phases with an expected FDI of $128 million.

The spokesperson said Pakistan and China signed historic agreement for development of Rashakai SEZ on September 14, 2020 in Islamabad that provided a comprehensive roadmap for timely completions of the Zone on modern lines.

Meanwhile, Abdul Karim, Special Assistant to Chief Minister KP for Industry and Commerce said Rashakai SEZ agreement was a landmark development that would give enormous boost to the economic and industrial development of Pakistan.

He said it would serve an export base to Pakistan, Afghanistan and Central Asian Republics (CARs) following construction of Peshawar-Torkhum Motorway and ML-1.