China-Pakistan Economic Corridor (CPEC) has brought a foreign investment of 25 billion dollars

CPEC has brought foreign investment of 25 billion dollars

China’s Foreign Ministry said that the China-Pakistan Economic Corridor (CPEC) has made significant progress since its launch seven years ago, with total direct investment in the country reaching $ 25 billion.

Foreign Ministry Spokesperson Wang Wenbin in a meeting in Beijing noted that many projects were started and then completed under the China-Pakistan Economic Corridor, which is a (BRI) dynamic Belt and Road Initiative project launched by Xi Jinping – President of China.

He made special mention of Pakistan’s first electricity-powered public transport project – Orange Line Metro Line (OLMT) completion in Lahore. He said that last month, the Orange Line was commissioned as an early harvest, marking the beginning of the Metro age in Pakistan.

Wang said the completed projects under the China-Pakistan Economic Corridor have improved Pakistan’s infrastructure and energy supply, created jobs for local residents, and contributed to the GDP growth of Pakistan.

Moreover, the spokesman added that these projects have contributed to the development of the country’s electricity supply and infrastructure, created over 70,000 jobs, and contributed 1-2 percent of the country’s growth in Growth Domestic Product.

Referring to the example of Afghanistan, which imports food and other basic materials through the port of Gwadar, Wang said that the project not only promotes development but also promotes prosperity and regional connectivity of both countries.

A spokesman told reporters: “Since the first half of this year, the port of Gwadar has started shipping goods weighing about 20,000 tons and transporting fertilizers, sugar, and wheat to Afghanistan. This created around 1000 jobs for people around. “

He reaffirmed his support for this project, which was launched after the leaders of the two countries agreed, and said that China’s support for the China-Pakistan Economic Corridor will continue because the two countries will work together to implement the consensus of our leaders.

He added that present programs are more fixated on cooperation in agriculture, industry, and other spheres of life to transform the China-Pakistan Economic Corridor into a pilot project for high-quality development of the Belt and Road Initiative and realizing additional benefits for the region of our two countries.

Wang uttered appreciation for the positive statements made by top Pakistani leaders on the Pakistani Economic Corridor projects and said, “We took note of the comments on the Pakistani Economic Corridor, which is an important a vital project for China-Pakistani cooperation and development of the Belt and Road Initiative.”

When asked about the participation of third parties of other countries in the CPEC, he said that the Chinese side welcomes the interested parties of various countries in joining the Belt and Road Initiative project and other CPEC projects to jointly contribute to the global or regional prosperity and stability.

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