Huge investments under CPEC to reinvigorate various sectors of Pakistan’s economy: President Arif Alvi

By Shafqat Ali | Gwadar Pro Oct 5, 2022

Huge investments under CPEC to reinvigorate various sectors of Pakistan’s economy: President Arif Alvi

ISLAMABAD, Oct. 5 (Gwadar Pro) - Pakistani President Dr Arif Alvi on Tuesday afternoon said that huge investments under China-Pakistan Economic Corridor (CPEC) will further reinvigorate various sectors of Pakistan’s economy besides attracting investment from friendly countries in different sectors of the Pakistani economy.

The President mentioned that Special Economic Zones (SEZs) being developed across the country under the 2nd phase of CPEC would further augment Pakistan’s industrial growth, besides helping in the development of Pakistan’s transport, infrastructure and energy sectors.

The President made these remarks while addressing the 3rd Roundtable Conference titled “Pakistan Paradise for Investment & CPEC-2030: Economic Revolution from Kashgar to Gwadar and Beyond”, at the Aiwan-e-Sadr (President’s House).

President Alvi underlined that five SEZs, being developed under CPEC, will possess state-of-the-art infrastructure and the Government of Pakistan would provide all the necessary facilitation in setting up the industry in the SEZs.

He urged the local and foreign investors to fully benefit from the improved Ease of Doing Business in the country and utilize the opportunities being offered by the country’s business and investment-friendly policies.

Addressing the conference, the President highlighted that CPEC had already advanced the level of cooperation with Pakistan’s all-weather friend China in the infrastructure and energy sectors. The President said that CPEC has helped Pakistan develop a world-class road network, which would not only improve internal connectivity but would also help forge closer linkages with other countries in the region.

In the energy sector, he highlighted, steps were being taken to improve the transmission and distribution system of the country under CPEC, enhance system reliability, address the chronic problem of circular debt and ensure sustained provision of energy at affordable rates for industrial and commercial activities.

While expressing satisfaction with the multi-dimensional and multi-sectoral work being undertaken by China in Gwadar, the President said that it would help realize the dream of making Gwadar a centre for regional trade and investment.

He underscored that Gwadar port would be an ideal sea route for trade with Afghanistan and the Central Asian Republics (CARs). He also underlined the need for peace in Afghanistan which would ultimately open trade and economic opportunities for the region and neighbouring countries.

The President stressed that the government had introduced a comprehensive program for skill development of the youth, especially in the IT sector, with a view to provide a skilled workforce to the local industry and manpower export market. He expressed the hope that collaboration between the two countries in the IT sector would be further enhanced.

The Ambassador of China to Pakistan, Nong Rong in his speech said that Pakistan and China enjoyed exemplary and all-weather friendship in all sectors and CPEC was one of the manifestations of this cooperation.

He pledged that China will continue its support to the CPEC projects to ensure that the development on these projects to be carried out with full potential. He said that the cooperation between the two countries will be further enhanced in the social sector, industry, culture and technology.

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