Special economic zone (SEZ) is a fruitful structure for enhancing employment, trade, promoting small businesses to access market. SEZs are considered as a powerful engines of economic growth. Nine SEZs will be developing in the Pakistan in the collaboration of China under CPEC project. One of the SEZ will develop in Gilgit Baltistan province of Pakistan. The purpose of this study is to find out the local’s perception towards entrepreneurship development in the advent of Maqpondass SEZ development in Gilgit-Baltistan through perception based analysis. For this we have selected the population of business sector from three districts of Gilgit. Our sample size is 432 through Cochran’s formula and used random sampling from three district of Gilgit which are connected to CPEC route. We used ordered logistic regression and our dependent variable is nascent entrepreneurship (NE) and independent variables are Awareness about CPEC (AAC), Awareness about Maqpondass (AAMEZ), SEZ Incentives (SEZInc), Regional Market Competitiveness (RMC), Loan Availability (LA), and Education and Experience (EE). Results identify that strong linkages will be develop between MEZ industries and local small businesses and entrepreneurs in future. Results also put forth strong perceptions that with government Incentives, adequate financial arrangements, skill development and background knowledge and relation with local business will help to start a new business entrepreneurship. Results are as per entrepreneurship theory. Finally as a policy recommendation we suggest that government should focus on human capital development and provide financial aids along with creating incentives for adapting advanced technological formation to promote local businesses in Gilgit through SEZ because many natural resources are under produced due to lacking of mentioned facilities Supervisor:- Dr. Saranjam M. Baig (The Director CPEC Gilgit Baltistan) Co-Supervisor:- Dr. Mahmood Khalid (Senior Research Economist, PIDE Islamabad)