China Overseas Port Holding Company (COPHC) Chairman Yo Bo has emphasised that Pakistan’s economic circumstances were primarily responsible for delay in China-Pakistan Economic Corridor (CPEC)’s development.
In a meeting at the Lahore Chamber of Commerce and Industry (LCCI), Yo shed light on the transformative progress of Gwadar under CPEC.
He underscored the significance of Gwadar, hailing it as CPEC’s pivotal axis. The first stage of Gwadar’s port and city development, along with the Gwadar Free Zone, has been completed.
His remarks outlined that Gwadar had been transformed from a modest village into a thriving modern city, replete with cutting-edge technology.
China has made substantial investment in Gwadar’s growth, spanning construction, airport infrastructure and healthcare facilities.
The Gwadar Free Zone, which came under the auspices of Free Zone Company in 2018, has already established its phase one, spanning 25 hectares adjacent to the port. This area has attracted six companies.
The North Free Zone, covering a large area of 900 hectares, has been designated for industrial and warehousing purposes, which will play its role in processing raw material for export.
Speaking about Balochistan’s economic disparity, Chairman Yo highlighted the untapped potential of the region, which was brimming with natural resources, but plagued by underdevelopment and negligible trade.
“Gwadar Port, however, is fully operational, equipped with facilities to manage imports and exports.”
The COPHC chairman outlined the Gwadar Port’s operational status, its cargo handling capacity and plans for the Gwadar International Airport’s full-scale operation.
He also spoke about the port’s role in facilitating barter trade with Iran, Afghanistan and Russia, as well as its strategic advantages.
The robust incentives extended to Chinese companies in free zones, coupled with the prospect of win-win partnerships for Pakistani and Chinese businesses, were a recurring theme.
An LCCI delegation was invited to Gwadar to come and explore opportunities of collaboration and investment, which highlighted China’s eagerness to foster joint ventures and establish industries, not just within Gwadar but also beyond its borders.
Speaking on the occasion, LCCI President Kashif Anwar announced that a business delegation would visit Gwadar soon. He hailed Gwadar’s role within CPEC to catalyse regional connectivity, benefiting not only China and Pakistan but also adjacent nations such as Iran, Afghanistan and Central Asian Republics.
He viewed CPEC as a cornerstone of Pakistan’s industrial and economic revitalisation.
Despite the strides taken since CPEC’s inception in 2015, Anwar acknowledged that much remained to be realised. The eight-year journey saw the construction of new infrastructure, from extensive road networks to power plants and free zones.
He underlined the need for fully unlocking CPEC’s economic potential, looking towards Chinese investors for guidance.
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The future of economic cooperation between Pakistan and China holds fascinating potential. As many know, the two countries have invested heavily in strengthening ties through landmark projects. However, recent discussions reveal there may be more complexity behind the scenes than meets the eye.
While official statements paint an optimistic picture, insider perspectives tell a different story. It seems economic and political realities on the ground have hindered progress. Yet both sides remain hopeful of unlocking the full potential of their joint ventures.
For those interested in understanding the nuances shaping this crucial relationship, I came across an insightful article worth reading. It offers a balanced perspective on accomplishments so far as well as prevailing challenges. The author clearly has an in-depth understanding of the key issues at play.
I won’t spoil the details here, but I highly recommend looking up the article to learn more. It’s a fascinating look into the workings of a partnership that could transform the region’s economic landscape – if both partners can navigate present hurdles. For anyone invested in the future of Pakistan-China ties, the read is well worth your time.
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Thank you for the insightful article on CPEC and Yo Bo’s perspectives. It’s heartening to witness Gwadar’s remarkable transformation, a testament to the substantial Chinese investment. Unlock789, a platform promoting cross-border collaborations, applauds the strides made in Gwadar’s development. We believe in unlocking economic potentials and fostering partnerships, echoing the sentiments shared. Looking forward to the LCCI delegation’s visit to Gwadar, anticipating fruitful collaborations for mutual growth.
Heartfelt gratitude for shedding light on the intricate dynamics of CPEC and Yo Bo’s invaluable insights. Gwadar’s metamorphosis is indeed a beacon of progress. Holiday Baccarat resonates with the vision of unlocking economic opportunities and fostering collaborations. We eagerly await the LCCI delegation’s exploration of Gwadar’s potential. Our platform is committed to facilitating such ventures. Here’s to unlocking new horizons and building bridges for shared prosperity between our nations.
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Thanks for this, the delays in the CPEC are insane this day and age. Get it together guys!
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