Gwadar is going to be the biggest GDP provider making trade of $1 Billion in next seven years. Chairman COPHC has assured that Gwadar will be the leading GDP provider and will create 47,000 jobs. Gwadar with its huge economic prospects set to beat Karachi which is the biggest revenue generating city of Pakistan.
Gwadar will be the Leading GDP Contributor of Pakistan
Zhang Baozhong Chairman China Overseas Port Holding Company (COPHC) while chairing a press conference expressed his resolve to make Gwadar the leading GDP contributor of Pakistan. He said that Chinese companies managing Gwadar Port and Gwadar Free Zone have promised to support Pakistan in making Gwadar coastal city more successful than Karachi.
Chairman COPHC was briefing media after government’s announcement of 23 years tax holiday for Gwadar Port and GwadarFree Zone. COPHC and its subordinating companies will run the Gwadar port and Gwadar Free Zone for 23 years. Baozhongconfirmed that until now forty-one investors have agreed to invest about $500 million in Gwadar Free Zone in first phase.
While expressing his views about the Future Business Hub of Pakistan, Baozhong said that Gwadar is going to be the biggest GDP provider in next seven years. In this period of time Gwadar will create 47,000 jobs for locals making $1 Billion Trade.
“I believe Gwadar will be the largest contributor to the gross domestic product (GDP) growth in seven years, 95% of the production in the Gwadar Free Zone would be exported.We have completed the master plan of the Gwadar Free Zone that will be built in four phases over a period of seven years. Once the zone is fully developed in seven years, 47,000 jobs will be created for the locals, and its annual sales will be $1 billion.”Said Baozhong.
Gwadar to be More Valuable than Karachi
Chinese operators of Gwadar Port and Gwadar Free Zone have vowed to make Gwadar the single largest contributor to Pakistan national economic output in seven years. Currently Karachi remained the single contributor to the national economic output.
Chairman of COPHC says 47,000 jobs will be created for locals with new investments worth billion dollars.
“I believe Gwadar will be the largest contributor to the gross domestic product (GDP) growth in seven years and 95 of the production in Gwadar Free Zone would be exported”.
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