CPEC News
During a meeting with the Lahore Chamber of Commerce and Industry (LCCI), Mr. YO BO, Chairman of China Overseas Port Holding Company (COPHC), stressed the remarkable progress in Gwadar as part of the China-Pakistan Economic Corridor (CPEC). He highlighted the pivotal role of Gwadar, the completion of its first development stage, and the Gwadar Free Zone, along with China’s substantial investments. The LCCI delegation was extended an invitation to explore collaboration, which showcased China’s keen interest in the region. In response, LCCI President Kashif Anwar reciprocated by expressing plans for a business delegation visit to Gwadar, acknowledging its significance in regional connectivity and Pakistan’s overall revitalization. The gathering acknowledged the importance of unlocking CPEC’s economic potential and emphasized the necessity of cooperation between COPHC and Pakistani businesses. This collaboration underscores Gwadar’s influence on CPEC’s evolution and Pakistan’s future economic prospects.
How COPHC is Transforming the Future of Gwadar Under CPEC
During a meeting at the Lahore Chamber of Commerce and Industry (LCCI) on Monday, Mr. YO BO, chairman of China Overseas Port Holding Company (COPHC), emphasized the remarkable progress of Gwadar under the China-Pakistan Economic Corridor. He highlighted that Gwadar has emerged as a vital axis of CPEC, marking a substantial achievement in the first stage of its port and city development, including the completion of the Gwadar Free Zone.
Chairman YO BO stressed the significance of Gwadar and its transformative journey from a modest village to a thriving modern city with cutting-edge technology, thanks to COPHC’s decade-long stewardship. He also highlighted China’s substantial investments in various sectors, including construction, airport infrastructure, and healthcare facilities.
Furthermore, Chairman YO BO addressed Balochistan’s economic disparity and emphasized the untapped potential of the region, rich in natural resources but hampered by underdevelopment and negligible trade. He pointed out that the fully operational Gwadar port is capable of managing both imports and exports.
The chairman’s visit was not just a formality, but an invitation for the LCCI delegation to explore collaboration and investment opportunities in Gwadar. This gesture showcased China’s eagerness to foster joint ventures and establish industries, not only within Gwadar but also beyond its borders.
The progress of Gwadar under CPEC presents an exciting opportunity for economic growth and development in the region, making it a focal point for investment and cooperation.
Exploring the Economic Potentials of CPEC and Gwadar with Kashif Anwar and YO BO at LCCI
LCCI President Kashif Anwar expressed great enthusiasm and announced an upcoming business delegation to Gwadar. He emphasized the paramount role of Gwadar within CPEC, highlighting its potential to enhance regional connectivity and benefit not only China and Pakistan but also neighboring nations like Iran, Afghanistan, and Central Asian Republics. Anwar viewed CPEC as a cornerstone for Pakistan’s industrial and economic revitalization.
While acknowledging the progress made since CPEC’s inception, Anwar admitted that there is still much more to be achieved. Over the course of eight years, new infrastructure such as extensive road networks, power plants, and free zones has been developed. Anwar’s main focus, however, remained on fully unlocking CPEC’s economic potential, seeking guidance from COPHC and Chinese investors.
During the LCCI gathering, Chairman YO BO provided detailed information on the operational status of the Gwadar port, its cargo handling capacity, and plans for the Gwadar International Airport’s full-scale operation. He highlighted the port’s role in facilitating barter trade with Iran, Afghanistan, and Russia, underscoring Gwadar’s strategic advantages over Port Qasim.
The robust incentives offered to Chinese companies in the free zones, along with the potential for win-win partnerships between Pakistani and Chinese businesses, was a recurring theme. Chairman YO BO unveiled COPHC’s pivotal role in CPEC’s second phase, aligned with the One Belt Road Initiative. He outlined opportunities for Pakistani investors to formally engage with Chinese companies for joint ventures.
The LCCI gathering ended on a promising note, paving the way for enhanced collaboration and camaraderie between China Overseas Port Holding Company and Pakistani business entities. Chairman YO BO’s vision and accomplishments resonated throughout the LCCI’s corridors, indicating that Gwadar’s rise is set to shape CPEC’s evolution and drive Pakistan’s economic trajectory, positioning both nations for a mutually prosperous future.
