Pakistan and China have inked agreements and MoUs to make Gwadar an international smart port city. The signing ceremony was held at Ministry of Commerce of the People’s Republic of China.
Gwadar being the gateway to CPEC is highly valuable for Pakistan, and the government is using it as a bait to attract foreign investors.
Minister of planning and development Ahsan Iqbal said while talking on the occasion, “Gwadar, a jewel of Pakistan, is being built at par with port cities like Singapore and Hong Kong. As the gateway to CPEC, it has already started attracting the interest of investors, however, Gwadar would become an international smart port city soon”.
Ahsan Iqbal further asserted that Gwadar Eastbay Expressway project has also been initiated in the city. The expressway would be an 18.981 km long 4-lane expressway. He said, “It would integrate Gwadar Port with the Makran Coastal Highway as well as with the free zone and future container terminal”.
Due to Gwadar turning into an international port, the economic activity in the country is rising and private investors from China and Turkey are investing in Pakistan. Turkish companies’ investments in Pakistan currently stand at $900 million with Chinese companies even ahead in numbers.
Minister says we are not only targeting investors but also tourists. The government is trying to make Gwadar a tourism hub like Singapore, and for this purpose, the government is enhancing the infrastructure of the city.
Moreover, GDP of Pakistan is expected to rise to 5.2 percent, that will mark the highest GDP growth of the country in the last nine years.