Gwadar Is Expected To Become A Regional Logistics Center Within Five Years
ISLAMABAD, Pakistan: Gwadar will be a logistic center in the area in the next five years, playing a vital role in developing Pakistan’s national economy, said Zhang Baozhong, Chairman of China Overseas Port Holding Company, while assessing the project’s five-year trip.
Zhang Baozhong, Chairman of China Overseas Port Holding Company (COPHC), has said that Gwadar, an essential component of the China Pakistan Economic Corridor (CPEC), would become the region’s logistics center within five years.
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“According to our strategy, Gwadar will become the logistic center in this area within five years,” Zhang Baozhong said while assessing Gwadar’s five-year voyage.
According to its plan, the Free Zone will be completely developed; more than 30,000 people will be directly employed by free zone investors, and at least $10 billion in GDP would be contributed to Pakistan’s economy.
And, as a result of this economic growth, the lives of the locals will be substantially improved or modified; new schools, hotels, and medical facilities will be built; and water and power concerns will be entirely resolved.
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Zhang asked several firms to invest in Gwadar’s bright future. “Gwadar will become one of the most beautiful cities in the world—a human dreamland,”
He said that logistics is one of the greatest industries in Gwadar since the city serves as a gateway to Middle Eastern nations. However, the port will not produce any money.
A sufficient amount of commerce is required to grow the port, as is a robust logistic infrastructure to manage the cargo. According to Zhang, free zone development and port development are twins.
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Many plants rely on the supply of gas, LPG, or LNG, thus an oil refinery is also desired. Gwadar is located near oil-rich nations like Oman and Saudi Arabia, and raw supplies may quickly reach the port.
This enterprise will not only benefit Gwadar Port but will also assist Pakistan in achieving a consistent supply of critical industrial supplies.
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