All-inclusive business park opens doors

The Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC), in collaboration with the Khyber Pass Economic Corridor (KPEC), launched the inclusive Business Development Park (IBDP), a pioneering initiative aimed at empowering entrepreneurs from diverse backgrounds, including men, women, persons with disabilities, and transgender individuals.

The park was formally inaugurated by the Special Assistant to Khyber-Pakhtunkhwa Chief Minister for Industries, Commerce, and Technical Education, Abdul Karim Tordher on Monday. The same project is funded by the World Bank through the KPEC, demonstrating a strong commitment to foster inclusive economic growth in the region.

The Inclusive Business Development Park, initially established in Peshawar Economic Zone, is a strategic effort to nurture small business ventures, enabling them to scale up and achieve long-term sustainability. -The IBDP will serve as a model for future replication in other feasible locations across Khyber Pakhtunkhwa, aiming to create a robust network of inclusive business ecosystems throughout the province.

The IBDP project is being executed by a consortium, including World Bank, Khyber Pass Economic Corridor (KPEC) and Khyber-Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC).

The project is valued at PKR 71 million, with substantial contributions from both KPEZDMC and KPEC. The primary financial support is provided by the World Bank, supplemented by additional funding from KPEZDMC and KPEC.

These organizations are committed to provide a comprehensive range of services to support resident startups, including those operating from homes and other scattered clusters. KPEZDMC will offer direct support to businesses housed within the IBDP, facilitating their ability to manage, trade, and exhibit their products effectively.