Senate Chairman Sadiq Sanjrani spoke recently about the potential of Pakistan’s new port city of Gwadar can be a huge hub for industrial and investment activity. He urged the wider business community to take full advantage of the new opportunities within the port and the region of Balochistan overall.
Chairman Sadiq was speaking at the ICCI (Islamabad Chamber of Commerce and Industry) where he stated that businesses were offered immense prospects for investors and businesses as whole. He pointed out the opportunity to make lucrative returns in Gwadar and that the ease of doing business in the region was becoming simpler and easier as teething issues in bureaucracy are gradually fading. He stated that new businesses in the emerging port city would be the backbone of the local and national economy.
“The way local business community has fought back against the impact of Covid-19 is appreciable and it showed their resilience to survive in tough conditions.” commented Senate Chairman Sadiq Sanjrani.
Muhammad Ahmed Waheed, President ICCI added that the government was open to offering attractive packages to the construction industry. He pointed out that similar negotiations could be open to other major industries, in particular for those companies and investors looking into the economic benefits of industrial zones like Gwadar. The Pakistani government is keen to fast track any industrial initiative.
Back in April of this year, speaking at the event ‘Dialogue on Industrial Cooperation under CPEC and SEZs Framework’, organized by the Board of Investment, Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood commented that Gwadar will bring significant export growth for Pakistan.
Mr Dawood stated that a strategy had been developed involving all major SEZs (Special Economic Zones) to improve capacity and also how they will attract new business startups. Despite the multiple challenges of the year, Pakistan has managed to post a 13.6% growth in exports thanks to initiatives such as Gwadar. This was obviously a statistic that pleased the Pakistani government.
The objective of Special Economic Zones under CPEC, Dawood explained further that the SEZs are welcomed for all serious businesspeople and investors, no matter what nationality they come from.
The same opportunity to invest in a lucrative spot within a SEZ is available to anyone. Gwadar has been inundated with investments from various sectors and is already seeing the pace of investment quicken post pandemic.