CPEC to attract international investment, create employment opportunities, says Chairman BOI

Chairman, Board of Investment (BOI) Miftah Ismail on Tuesday said the China-Pakistan Economic Corridor (CPEC) would attract huge international investments for enhancing employment opportunities and spur economic growth.

After the completion of this mega project, Pakistan is expecting approximately $ 150 billion international investment in the country through different businesses, manufacturing centres and investment by Chinese investors, Chairman Board of Investment (BOI) Miftah Ismail told APP .

Through mega projects of CPEC initially $ 46 billion investment to be executed in energy sector and infrastructural development, which would help enhance economic activities and industrial growth in the country, said Miftah.

He said that CPEC would be a confidence booster for investors and attract investment not only from China but other parts of the world as well. Replying to a question, he said CPEC would provide regional and global connectivity and connect the country with the international markets in different regions, including developed countries for contributing huge multilateral trade opportunities. He added that investment on the corridor would transform Pakistan into a regional economic hub for enhancing the economic integration and trade linkages.

Connectivity through this mega projects to enhance trade opportunities for Pakistan, which connect the country with 70 percent of international maritime trade through Gawadar and Karachi ports, he said. Chairman BOI said that CPEC routes to connect all the regions of the country with Gawadar port, which also give huge chance for enhancing exports of different trade items in international market from farflung areas.

Replying to a question, he said that for industrial activity and growth, “We need self-sufficiency in energy for which $ 35 billions to be invested in energy sector including different mode of energy hydel, coal and wind energy to overcome on energy shortage.” He said that Industrial zones to be established for initiating industrialization and growth in remote areas of the country, connects this with modern industrial infrastructure to enhance country’s exports.