CPEC is a fusion of multiple developments in the global, regional, bilateral and domestic contexts. The ultimate objective is peace, prosperity and well being of the people of the two countries, the region and the world. The centre of gravity of the world economy has shifted to the east with the emerging economies growing at a much faster pace than the developed economies. Both Pakistan & China have made a conscious effort to focus on expanding the economic dimension of the relationship and bring it up to par with the excellent cooperation between the two countries at the strategic and political level.
- The CPEC is an ongoing development mega project which aims to connect Gwadar Port of Pakistan to China’s northwestern region of Xinjiang, via a network of highways, railways and pipelines. The economic corridor is considered central to China-Pakistan relations and will run about 2700 km from Gwadar to Kashghar.
- China-Pakistan Economic Corridor and its connectivity with Central Asia, Middle East and Africa will help to shape entire region. Overall construction costs are estimated around $46 billion, with the entire project expected to be completed in several years.
- The Corridor is an extension of China’s proposed 21st century Silk Road initiative. This is the biggest overseas investment by China announced so far and the corridor is expected to be operational within three years. The corridor will be a strategic game changer in the region and would go a long way in making Pakistan a richer and stronger entity.
- The investment on the corridor will transform Pakistan into a regional economic hub. The corridor will be a confidence booster for investors and attract investment not only from China but other parts of the world as well. Other than transportation infrastructure, the economic corridor will provide Pakistan with telecommunications and energy infrastructure.
Pakistan - The Regional Business Hub
Pakistan – the land of numerous unexplored opportunities has recently earned a good name in the international market for being a vibrant and progressive developing country in the world. The Government of Pakistan has adopted a liberal investment policy to attract maximum foreign investment, where foreign investors can hold upto 100% equity in several economic sectors. As a result, the Foreign Direct Investment (FDI) in the Country has increased substantially over the past few years, thus Pakistan stands distinguished from many other countries of the region.
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