An attractive place to do business

May 22, 2018: Sheikh Amir Waheed, president of Islamabad Chamber of Commerce and Industry addressed various overseas diplomats saying that Pakistan was an attractive country for investment. He said that under the China-Pakistan Economic Corridor (CPEC), many construction and development projects have already begun in energy, infrastructure, communication and other sectors. He added that nine special economic zones would be set up under the aegis of CPEC to provide good investment opportunities to local and overseas stakeholders. 

An economic game changer

One of the biggest investments in the country is the China-Pakistan Economic Corridor (CPEC). This $62 billion partnership between Pakistan and China is intended to rapidly modernize Pakistani infrastructure and strengthen its economy through the construction of transportation networks, energy projects and special economic zones.

 

Stretching from Kashgar in western China all the way to Gwadar Port in Pakistan, this ambitious project is being hailed as a win-win for both countries. Construction of a highway and railroad will give China direct access to the Indian Ocean and significantly reduce its transit time for oil and coal imports from 12-days to a mere 36 hours. The project will mitigate what then-President Hu Jintao identified as the “Malacca Dilemma”—a perceived over-dependence whereby 80% of China's energy needs passes en route through the Malacca Straits (between Malaysia and Indonesia).

 

For Pakistan, the benefits will not only include a modernized transportation infrastructure, but also improvement in electricity generation, which has hitherto been a major impediment to the country’s development.

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