The CPEC project is now said to be boosting Pakistan’s direct investment appetite, said Shi Yuanqiang, Deputy Chief of Mission at the Chinese Embassy in Islamabad. Speaking at the seminar “Ten Years of CPEC: Success, Opportunities and Challenges” organized by the Asian Institute of Eco-civilization Research and Development (AIERD), Shi emphasized the transformative role CPEC would have over the last decade.
Shi noted that CPEC had brought $25 billion dollars direct investment into Pakistanits new development stage. He attributed the “1+4” framework developed by Chinese President Xi Jinping and Pakistani leaders to materializing this vision. Pointing out that fourteen among them under CPEC are operational energy projects contributing one-fifth of the total installed power capacity in Pakistan.
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Another point of highlighting included the establishment of the orientations: SK Hydropower Station, Orange Line in Lahore, and the whole year-round opening of Khunjerab Pass. Development works at Gwadar Port and the free industrial zone therein along with Gwadar New International Airport were commended for unlocking the financial potential of the city.
Jamil Qureshi, Secretary of the Special Investment Facilitation Council (SIFC), characterized CPEC as the notion of the future for Pakistan and more than just a set of infrastructure projects. He stressed the importance of industrial ecosystems and special economic zones (SEZs), remarking on the strides made in Dhabeji SEZ, M3 Allama Iqbal SEZ, Rashakai SEZ, and Bostan SEZ. Qureshi stressed that the government has a role to play in ensuring the security, policies, and incentives that will stimulate industrial growth.
AIERD Chairman Zahid Latif Khan emphasized CPEC’s potential to penetrate Pakistan’s financial markets and proposed devising new financial instruments such as Islamic Sukuk and CPEC bonds to attract local and international investors.