SEZs along CPEC are potential game-changers, says envoy
In second phase of CPEC, there is high focus on social development and projects that are closer to the masses such as health and education. PHOTO: FILE
Pakistan Ambassador to China Moinul Haque highlighted the significant benefits Pakistan has gained through the Belt and Road Initiative (BRI) and the China-Pakistan Economic Corridor (CPEC), calling it the flagship project of the BRI. Speaking at the 13th China Overseas Investment Fair, Haque emphasised the importance of the BRI for partner countries. This year also marks the 10th anniversary of CPEC.
Over the past decade, CPEC has achieved notable milestones in Pakistan. According to China Economic Net (CEN), Haque said that, “Over the past decade, 888 km of the road network has been laid, and over 8000 additional MWs of energy have been added to Pakistan’s national grid with the commissioning of 13 new energy projects. A new 878km transmission line has been built to evacuate 4000MW electricity. An 820 km long cross-border optical fibre cable has been laid, and over 200,000 new jobs have been created. Various estimates have pointed out to an increase in 1-2% of the GDP of Pakistan.”
Haque emphasised that the BRI has successfully bridged the gaps of suspicion and doubt among the international community, connecting them through trade, commerce, and cultural cooperation based on the principles of win-win cooperation and mutual benefit. It has transcended barriers of race, religion, and nationality, uniting the international community around shared dreams and common ideals.
CPEC, as a comprehensive and long-term project, has significantly transformed Pakistan’s economic landscape and laid a solid foundation for future growth and development, he said. The Special Economic Zones (SEZs) established under CPEC are expected to be a game-changer not only for Pakistan but also for the entire region. With attractive incentives, these SEZs are poised to attract foreign direct investment, while the upgraded infrastructure and strategic location of Gwadar Port further enhance Pakistan’s appeal as an investment destination.
As CPEC enters its vital phase of facilitating industrialisation in Pakistan, the ambassador expressed optimism about its future impact. The tangible benefits achieved so far and the potential of the SEZs demonstrate the concrete progress and the promising trajectory of CPEC, contributing to Pakistan’s socio-economic development agenda.
Published in The Express Tribune, June 18th, 2023.
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