Gwadar: According to press reports, Chairman of China Overseas Port Holding Company (COPHC) Zhang Baozhong stated in an interview with the media that Gwadar will become a “logistic centre” in the next five years. According to him, the completion of the Gwadar free zone and port will add a total of USD 10 billion to Pakistan’s GDP.
The chairman claims that the completion of these two projects will result in the creation of 30,000 jobs, as well as the expansion of local businesses, community development, and municipal infrastructure.
He also noted that the Chinese and Pakistani governments are cooperating on infrastructure projects, which would increase the project’s overall productivity while also attracting investment. He also added that the creation of the Gwadar Free Zone aims to open up new business opportunities in oil and gas refineries, agriculture, and food production.
He also remarked that Gwadar’s aesthetic and commercial relevance will increase as the port grows over the next five years. It’s worth noting that COPHC started working on the Gwadar free zone’s construction in 2016 and has operational rights for the next five years.