Monday, April 17, 2017

Pakistan’s Gwadar draws attention, investment

http://www.globaltimes.cn/content/1042858.shtml

Source:Global Times Published: 2017/4/17 21:53:39

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With the development of Gwadar Port under China's "One Belt, One Road" initiative, Gwadar, the Pakistani city where the port is situated, is transforming from a small fishing village into an international harbor and attractive destination for investment, the People's Daily reported over the weekend.

As a flagship project in the China-Pakistan Economic Corridor, the construction of the deep-sea port is rapidly driving the economic growth of Gwadar, the report said, citing Hu Yaozong, vice president of Gwadar Free Zone Co. Hu noted that the landscape of the Gwadar Port is expected to "change significantly every three months" based on the current construction speed. 

One of the major changes is the improvement in basic infrastructure, according to Zhang Baozhong, the president of State-owned China Overseas Port Holding Co, the project's contract developer. 

The report quoted Zhang as saying that as of the end of 2016, China Overseas Port had completed the construction of the port's supporting facilities, enabling it to process containers and cargo. Routine routes to China, the Middle East and Africa have also been opened. 

A new international airport, an employee training center, hospitals and coal-fired power plants are also under construction in Gwadar, the report said, noting that such projects would diversify the city's industrial structure and improve local living standards. Land prices in Gwadar Port have surged on expectations that the city will prosper, the report said, citing local real estate developers. 

For example, a site measuring 836 square meters in Gwadar was sold at 500,000 Pakistan rupees ($4,907) in 2013, but the price has since soared about 15 times, said the report. 

An increasing number of businessmen in Pakistan have compared Gwadar with China's just-announced Xiongan New Area, and are actively looking for investment opportunities there. 

"We would like to tap into China's experience of building special economic zones, initiating a new economic development model for Pakistan," said Zhang

2 comments:

  1. Undoubtedly China is assisting Pakistan to build CPEC upon the Graves of people of Balochistan; but would have to pay it's price in return!!!.JKBALOCH.

    ReplyDelete
  2. Undoubtedly China is assisting Pakistan to build CPEC upon the Graves of people of Balochistan; but would have to pay it's price in return!!!.JKBALOCH.

    ReplyDelete