Gwadar to Become Logistic Hub in Next 5 Years: Chairman COPHC
Zhang Baozhong, chairman of China Overseas Port Holding Company (COPHC), stated in an interview with the media that Gwadar would become a “logistic center” within the next five years, according to news outlets. According to him, the completion of the Gwadar free zone and Gwadar port will add $10 billion to Pakistan’s GDP.
According to the chairman, the completion of these two projects would lead to the creation of 30,000 jobs in addition to the expansion of local businesses, community development, and municipal infrastructure.
In addition, he claimed that the Chinese and Pakistani governments are collaborating on the construction of infrastructure, which will increase the project’s overall productivity and attract investment. In addition, he noted that the objective of the Gwadar Free Zone development is to provide new investment opportunities in oil and gas refineries, agriculture, and food processing.
He also remarked that the port’s growth over the next five years would enhance Gwadar’s aesthetic and economic significance. Notably, COPHC began constructing the Gwadar free zone in 2016 and has operational rights for the following five years.
To make Pakistan more business-friendly, the government has also offered investors a 23-year tax vacation.
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