Dr Hassan Daud Butt, former Project Director of the China-Pakistan Economic Corridor (CPEC) and Senior Advisor at the China Study Center and Energy China Pakistan, has underlined the strategic importance of CPEC’s second phase, saying it would bring a surge in foreign direct investment (FDI), generate vast employment opportunities, and boost national exports.
Speaking to the media on Monday, he noted that while the first phase of CPEC largely focused on energy, infrastructure, and communication projects, the new phase would prioritize industrial cooperation, agricultural development, socio-economic initiatives, and high-technology sectors.
“CPEC is the flagship project of China’s Belt and Road Initiative (BRI), which has now entered its second phase,” he said.
Dr Butt further highlighted the significance of the recent Shanghai Cooperation Organization (SCO) summit and Prime Minister Muhammad Shehbaz Sharif’s engagements in Beijing, calling them crucial for the success of CPEC Phase-II. “These developments are sending positive signals for Pakistan’s economy and it is expected that Pakistan will emerge as a hub of trade and economic activity in the region,” he added.
He urged policymakers, the private sector, and academic institutions to work in unison to fully harness the opportunities arising from this new phase of CPEC.
