China Economic Net
Published Date: Aug 9, 2020
Gwadar Port and its free zone promote prosperity & regional connectivity
Zhang Baozhong, Chairman of COPHC, presented the latest progress of Gwadar.
Through Gwadar Port, the transit trade to Afghanistan has begun for the first time. “It’s also the first time that the bagging of DAP fertilizer has been done in Pakistani port, instead of foreign ports. This move alone has created thousands of jobs for the local people, ” Zhang Baozhong said.
The investment in Gwadar Free Zone keeps growing. Despite COVID-19 pandemic, four plants and workshops have been completed and will go into operation this year. Furthermore, with 12 new investors’ registration, the number of investors in the free zone in total has reached 56.
The supporting projects including East Bay Expressway, New Gwadar International Airport, China-Pakistan Friendship Hospital, Gwadar Technical & Vocational Institute and Faqueer Colony Middle School extension building are in the progress, some of which even completed earlier than schedule.
Specifically, the long suspending tax incentives issue in Gwadar has been resolved after 14-year suspension and the investment environment has been greatly improved.
“It is the shared wish of the people of China and Pakistan to develop Gwadar into a modern emerging city, so as to lead the economic and social development of Baluchistan as a whole, and to enable the hardworking, kind-hearted and peace loving local people of Baluchistan to enjoy modern life, ” Zhang Baozhong firmly believed in Gwadar’s better tomorrow.
It’s a difficult time for the whole world but we still can see many new developments and renewed efforts in Gwadar. H.E. Yao Jing, Ambassador of China to Pakistan, described this contrast as “Gwadar Phenomenon” in the conference. It demonstrates the resilience and the devotion by Pakistani and Chinese governments and business communities during the coronavirus pandemic.
“Gwadar Port is not simply about port operation, but a comprehensive project, ” H.E. Yao Jing said. The Chinese government supports a lot of affiliated projects in infrastructure to help Gwadar realize its huge potential.
Lt. Gen. Asim Saleem Bajwa, Chairman of CPEC Authority reviews Gwadar’s development, “three years back Gwadar was a desert city. I’ve seen rapid development.” He believes Gwadar will become a great regional hub.
Lt. Gen. Asim Saleem Bajwa also mentioned the importance of the chain development between Balochistan and its surrounding areas. “We will develop connectivity with the port and the area in socio-economics so that local people can participate in the economic development, ” he said.
Revealed by Lt. Gen. Asim Saleem Bajwa, in the third week of this August, the development agreement for Rashakai Special Economic Zone will be signed.
DG China MOFA Muhammad Mudassar Tipu, Executive Director of SDPI Dr. Abid Q Suleri, Chairman of ISE (REIT) Zahid Latif Khan, Director ASC, SDPI Shakeel Ahmed Ramay, Collector of Custom Dr. Tahir Qureshi and Student of Faqeer School Maheen Sudheer also attended the meeting.