Prime Minister Shahid Khaqan Abbasi stated on Wednesday that the results of the China-Pakistan Economic Corridor (CPEC) have already started to come in.
Speaking at a session titled ‘The Belt and Road Impact’ at the World Economic Forum (WEF) in Davos, Switzerland, Abbasi said CPEC is about developing infrastructure, power plants, airports, seaports, highways and special economic zones for export growth.
Sharing the results of the over $56 billion CPEC, Abbasi said the cement industry has grown by 56 per cent while exports are up by 15 per cent, adding that the project has resulted in the creation of “great investor confidence”.
The prime minister also said that despite establishing coal plants under CPEC, the net effect on the environment will be positive through replacement of older, less efficient oil-based power plants.
“CPEC is much more than just creating infrastructure on ground,” he added.
Talking about foreign investors in CPEC, the premier said there is a need to ensure that the projects are inclusive and open to all investors with the same level playing field that’s available to local players.
“Pakistan can provide connectivity to most of land-locked Central Asia,” he stated.
Shahid Khaqan Abbasi said the Chinese Belt and Road Initiative would link together a series of countries, regions and civilizations to create shared prosperity. He said BRI is physical manifestation of the bonds between countries that existed through history. He said Pakistan today is most visible part of the BRI because of China-Pakistan Economic Corridor. He said the project would result in freer movement of people and greater cultural opens between the countries.
The Prime Minister said we strongly recognize the vision and initiative of China and President Xi.
The Prime Minister said CPEC is also boosting confidence of the investors and Pakistan is getting a lot of investment in addition to CPEC.