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CPEC: Economic prosperity for Pakistan

CPEC: Economic prosperity for Pakistan

With the promise of international opportunities and unlimited resources, Pakistan has embarked on a journey of economic growth. Being the 23rd largest economy in the world by Purchasing Power Parity, Pakistan has now picked up the pace in collaboration with the economic partners from around the world. The state now possesses the strength to boost its semi-industrialized economy and gain acknowledgement over its manufacturing, agriculture, and trade capabilities.

For a country on the verge of becoming a strengthened economy, Pakistan has solidified its foundations, embracing the framework of regional connectivity through the Pakistan China Economic Corridor.

Apart from its major trading attributes contributing towards the prosperity of the two countries, CPEC will also enable local industries to flourish. Moreover, nine industrial zones under Special Economic Zones (SEZs) would be completed soon to promote industrial growth in the country by providing more lenient economic and tax policies.

CPEC also includes a number of initiatives in Pakistan. Being the last land-stop before the Arabian sea, Gwadar has always been considered as a goldmine for possessing the geographical characteristics of a natural deep sea port. It is now the central nexus on which all of CPEC is geared towards. However, connecting a path from this edge of the Pakistan all the way to China meant developing a mammoth transportation network. This is where One Belt One Road (OBOR) comes in. OBOR is a project to recreate the old Silk Road, which flourished during the Han Dynasty in China between 207 BCE and 220 CE. The initiative will also develop major industrial, agriculture, and energy centers across its wake. The 300 Megawatt Gwadar Coal Power Project is listed among the significant energy projects totaling 12,335 MW that are being installed.

CPEC will also contribute towards the improvement of peoples’ lives in Pakistan and China by promoting bilateral connectivity, construction projects, economic and trade opportunities, logistics and local trade in the region. CPEC will open doors to immense economic opportunities not only to Pakistan but will physically connect China to the markets of Asia, Europe and beyond. Almost 80% of China’s oil is currently transported from the Straits of Malacca (the distance is almost 16,000 km and takes 2-3 months), with Gwadar becoming operational, the distance would be reduced to less than 5,000 km.

International Recognition is already apparent as Saudi Crown Prince Mohammed Bin Salman on his recent visit to Pakistan announced to set up the world’s third largest oil refinery in Pakistan’s Deepwater port of Gwadar. Development of the project is underway in collaboration with the Chinese partners. Furthermore, the Crown Prince and PM Imran khan signed eight memorandums of understanding estimated at around $20 Billion.

As the next stage of CPEC development starts, private investors and firms are flocking to Gwadar with their expertise, experience and capital to make the most of this unprecedented opportunity. An organization that has contributed a fair bit of its pioneering real estate development expertise in Pakistan, Rafi Group is also looking towards an optimistic future of the country.

The Group’s latest milestone is developing a real estate project of international standards located on the major artery of Gwadar, The Makran Coastal Highway, known as “Green Palms Gwadar”. This high class project promises international standards, facilities and amenities once completed. Green Palms Gwadar will become the go-to place for anyone looking to invest in a lucrative real estate project. As CPEC opens its gates to the nation and the whole world. Akin to the megalopolis of Shenzhen (the city upon which Gwadar’s development is based) once the Infrastructure is placed, industrialization and services shall follow along with a series of mass mobilization towards this economic goldmine.

The development of Green Palms Gwadar is underway with the vision to provide unparalleled facilities to investors from all over the world and also cater to the lifestyle needs of Pakistanis from within and out of the country.

As the Prime Minister said on his recent visit to the very Important BRI Forum in Beijing, “Pakistan’s Gwadar once a small fishing village, is rapidly transforming into a commercial hub and Gwadar Airport will be the largest in the country. The CPEC will change the destiny of the Pakistani people”.

He would know as he had only recently inaugurated the $230 Million Gwadar International Airport, Initiated the Naya Pakistan Housing Project in Gwadar along with community development services which include but are not limited to health, education, security and other facilities on his visit there.