A memorandum of understanding (MoU) was inked between Khyber Pakhtunkhwa Economic Zones Development & Management Company (KPEZDMC) and Khyber Pass Economic Corridor (KPEC) SDU, P&D Department and Project Management Unit for the establishment of interim setup for Inclusive Business Development Park (IBDP).

The ceremony was held at KPEZDMC Head Office Peshawar on Tuesday, while Khyber Pakhtunkhwa Caretaker Minister for Industries, Commerce and Technical Education Muhammad Adnan Jalil was the chief guest on the occasion.

Secretary Industries Department Matiullah, CEO KPEZDMC Javed Iqbal Khattak and Project Director KPEC Imran Zahoor witnessed the event and other relevant were also present on the occasion.

The Management Committee established for IBDP will be responsible for oversight and other affairs of IBDP in this regard. The primary objective of IBDP is to provide an enabling working environment and opportunities for economic development of MSME’s in Khyber Pakhtunkhwa. Furthermore, the IBDP has been established through mutual collaboration of KPEZDMC and KPEC intending to gear and support home based business and to establish and expand businesses for sustainable and inclusive economy.

Project Director (PD), Inclusive Business Development Park (IBDP) Ms. Nabeela Afridi and the Chief of Project Planning and Development at Khyber Pakhtunkhwa Economic Zones Development and Management Company (KP-EZDMC), Imtiaz Ahmed held a progress review meeting with the Project Management Unit (PMU) Khyber Pass Economic Corridor (KPEC) and the Implementation Support Unit of the World Bank here on Thursday.

According to PD IBDP, Ms Nabeela Farman, the purpose of the meeting was to meticulously assess and strategize the implementation and execution plan for the IBDP, designed for success to be based at the Government Advanced Technical Training Center within the Peshawar Economic Zone.

At its core, the Inclusive Business Development Park is designed to provide comprehensive support to small businesses, fostering an environment where they can thrive under one roof.

This flagship project embodies the concept of inclusivity, with a focus on supporting small businesses, led by females, males, transgenders, and especially abled entrepreneurs, demonstrating growth potential.

The KP-EZDMC team is committed to ensure that the park becomes a thriving hub for diverse and inclusive entrepreneurial ventures, contributing to the broader goals of economic growth and community development. 

The Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC), in collaboration with the Khyber Pass Economic Corridor (KPEC), launched 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 the Chief Minister Khyber Pakhtunkhwa for Industries, Commerce, and Technical Education, Abdul Karim Tordher, here on Monday.

The project is funded by the World Bank through the KPEC. 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.

A handout issued here stated that 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 the World Bank, KPEC and Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC).The project is valued at Rs71 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 organisations 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.

The park will also provide essential civic amenities and a dedicated training facility to enhance the capacity of entrepreneurs and their workforce.The IBDP will facilitate the buying and selling of products for small-scale manufacturers, providing a crucial platform for market access.

Unlike traditional business incubation centres, the IBDP will feature a production house also, allowing small-scale businesses to manufacture their products on-site.The park will function as an expo centre and a hub for B2B matchmaking, creating opportunities for small-scale entrepreneurs to connect with potential business partners.

Entrepreneurs at the IBDP will benefit from Peshawar Economic Zone, drawing inspiration and encouragement from established industrial units operating in a full-fledged business environment. Ready-to-use office facilities based on plug and play model will be available, enabling entrepreneurs to quickly set up and start their operations.

The IBDP is currently home to 17 innovative startups, primarily focused on engineering, design, and services. Among them are an electric bike manufacturer, a 3D printing startup, and a perfume maker, each contributing unique products and expertise to the vibrant entrepreneurial ecosystem.

During the inaugural ceremony, Abdul Karim Tordher highlighted the provincial government’s commitment, stating that the government of Khyber Pakhtunkhwa is dedicated to creating an inclusive and thriving business environment.

He said that the launch of the IBDP is a testament to the commitment to empower entrepreneurs across all sectors, ensuring sustainable economic growth and prosperity for the entire region.