The performance of many areas does not live up to expectations. Where they stimulate economic growth, economic impulses tend to be temporary: after the construction phase, most areas develop at the same rate as the economy. And too many areas function as enclaves with limited effects beyond their borders. In addition, it is important to consider the social and environmental impact of SDS. Labour standards in the area, in particular, have often raised concerns in the past. Things are changing in modern areas. ESG practices are improving; More than half of the DSCs interviewed in a UNCTAD survey adopted guidelines on environmental standards and standards, and some adopted international environmental standards. To date, few countries have systematically assessed the performance and effects of ESDs, let alone implemented mechanisms to address poor performance. This is essential, as reversing the trend of unsuccessful SEZ requires timely diagnosis, especially when significant public investments have been made in the development of the area. UNCTAD`s DURABLE DEVELOPMENT DECLARATION can guide policy makers in the design of a comprehensive monitoring and evaluation system (Table 2). President BOI stated that this agreement provides the roadmap for the establishment of an SEZ, while the federal and regional governments and the promoter are jointly responsible for the development and successful operation of an SEZ. Signing the Rashakai SEZ development agreement under the CPEC would achieve the vision of developing special economic zones and ultimately lead to a prosperous and industrial Pakistan, said Atif R.
Bokhari, Chairman of the Executive Board. In his speech on Monday, Prime Minister Imran Khan said that the development of the Rashakai Special Economic Zone will help boost industrialization and create jobs in the country. Pakistan and China support the rapid implementation of the CPEC. The two countries signed the first development agreement for the Rashakai Special Economic Zone (SEZ) under the CPEC. At the signing ceremony, Prime Minister Imran Khan assured that the priority development of Rashakai SEZ would play an important role in the socio-economic development of the KP. It would promote industrialization and create massive jobs in Pakistan. Prime Minister Khan stressed that he was learning from China`s experience of socio-economic growth. Pm also stressed that the Mainline-1 (ML-1) rail project under the CPEC would promote regional connectivity and revolutionize the communications sector. The Pakistani Prime Minister spoke of the CPEC`s role in regional networking and said that Pakistan would be linked to peace in Afghanistan with Central Asian countries that will use the CPEC for trade, which will bring development throughout the region. He stated that the Special Economic Zone Act 2012, in accordance with Section-13, binds the Confederation (Investment Committee), the province and the developer of SEZ by an agreement on the successful creation and development of an SEZ, rightly called a development agreement.
Areas developed with a foreign partner are becoming more and more frequent. Despite the attention drawn to the partnership areas close to the government, the majority is built with companies developing international private areas, without formal agreements with a foreign government. Nevertheless, formal international cooperation in the development of areas is a growing phenomenon. A mix of development assistance, economic cooperation and strategic considerations advances the development of partnership zones with the support of investment countries.