PESHAWAR: Khyber Pakhtunkhwa Economic Zones Development and Management Company (KP-EZDMC), and USAID’s Economic Recovery and Development Activity (USAID-ERDA) have signed a memorandum of understanding (MoU) for collaboration in the industrial sector, said a press release issued on Wednesday.
The MoU seeks to formalise the cooperative efforts by identifying areas of common interest to make joint and synergistic efforts to accelerate the development and operation of industrial estates/economic zones in the NMDs, especially the ones involving the private sector under the Public-Private Partnership (PPP).
MoU details
According to the MoU, the parties must collaborate on a pre-feasibility study for the PPP-based development, operation, and maintenance of the Mohmand Economic Zone.
The study will examine the project’s possible prospects and obstacles to create the conditions for a fruitful PPP partnership.
Both sides are confident that their combined knowledge and resources will be used in cooperation to ensure the project’s success.
By utilizing the resources and skills of the private sector, the PPP modality will allow the government to provide the general public with high-quality infrastructure and services.
Due to the Mohmand Economic Zone Project, the Newly Merged Districts and K-P are expected to experience increased economic growth and job possibilities.
The initiative is expected to attract local and foreign investors, promote investment in the area, and enhance the region’s competitiveness.
—APP
