Direct investments in CPEC projects have accumulated a substantial $25 billion
The China-Pakistan Economic Corridor (CPEC), a prominent project of the Belt and Road Initiative (BRI), has made remarkable strides in Pakistan, attracting significant direct investments of US$25.4 billion from China over the last decade.
According to a senior official from the Chinese Foreign Ministry, the CPEC has established a comprehensive “1+4” cooperation framework, with a focus on Gwadar Port, transportation infrastructure, energy, and industrial cooperation.
CPEC initiatives have generated 192,000 employment opportunities, produced 6,000 megawatts of electricity, constructed 510 kilometers of highways, and expanded the national transmission network by 886 kilometers. It is considered a vital element of China-Pakistan cooperation and plays a crucial role in the Belt and Road Initiative.
As the CPEC marks its 10th anniversary, it celebrates significant achievements that have not only contributed to Pakistan’s development and regional connectivity but also expanded cooperation in sectors like agriculture, science and technology, telecommunications, and public welfare.
China remains committed to building upon past accomplishments and promoting the high-quality development of the CPEC based on mutual understandings between the leaders of both countries.
Prime Minister Shahbaz Sharif acknowledges the pivotal role played by the CPEC in transforming Pakistan’s economic landscape. The implementation of multi-billion-dollar development projects under the CPEC has provided socio-economic benefits, elevating the country’s progress regionally and globally.
The prime minister expresses dedication to expediting the pace of work on CPEC projects and enhancing cooperation with China in various sectors such as agriculture, special economic zones, information technology, and mineral resource exploration.
Experts praise the transformative impact of the CPEC on Pakistan’s development, with the completion of significant projects such as power plants, mass transit systems, and road infrastructure propelling the country forward.
The vision of the BRI, combined with Pakistan’s strategic location, aims to establish the nation as a regional hub for trade, commerce, manufacturing, and agriculture. The CPEC reflects the unwavering commitment and collaboration between the leadership of Pakistan and China.
Furthermore, experts emphasize the importance of industrial diversification for long-term economic development, citing successful examples from Southeast Asian countries that have climbed the industrial ladder.
Economist Dr. Nadeem Javaid highlights Pakistan’s potential to leverage its productive capabilities and enhance its position in global markets.
Overall, the CPEC has brought significant progress to Pakistan, strengthening economic ties with China and fostering development in various sectors. The project symbolizes the shared vision and dedication of both countries’ leadership.
Launched in 2013, the CPEC is a corridor linking Pakistan’s Gwadar port with China’s Kashgar, focusing on energy, transport, and industrial cooperation. The CPEC has gained unprecedented momentum in Pakistan’s economic history, backed by strong support from the Chinese leadership, according to the prime minister.