"OBOR is a great initiative and CPEC is its central project which will immensely impact on economic and political stability of Pakistan- It will also increase bilateral trade between Pakistan and China": Analysts
Pakistan stands at the cross-roads of an economic revolution which would produce win-win outcome for all: PM
Speaking at "One Belt-One Road Pakistan Investment Forum" in Hong Kong Prime Minister Nawaz Sharif says that Pakistan is highly attractive destination for investment that no global player can afford to miss.
Pakistan has sixth largest population in the world, rising middle class, rich human and natural resources, strategic location and political stability.
Nawaz Sharif urges prospective investors to benefit from economic revival of Pakistan and enjoy the first mover's advantage. Pakistan is ready to do business with the world. Pakistan is a gateway to energy rich Central Asia, oil rich Gulf and economically advanced Far East. Nine Special Economic Zones are being established along CPEC route where foreign companies can invest in factories, warehouses, logistic centers and much more for consumption in Pakistani market and export. The Government has devised a comprehensive plan to create an investment friendly environment. We have liberalized investment policies to welcome Foreign Direct Investment, offered incentives to attract new capital inflows including tax exemptions, tariff reductions and investment facilitation services. Pakistan's investment policy is focused on reducing the cost of doing business.
Host: Dr. Shafiq-ur-Rehman
Analysts on Telephone:
Dr. Azhar Ahmed (Economic Expert):
The timing of this address is very much important. The Prime Minister has presented his stance vigorously and has tried to attract foreign investors. Pakistan has a critical role in OBOR initiative. The success of CPEC is imperative for the success of OBOR. Pakistan is a bridge between China, Central Asia, Middle East, Africa and Europe. Hong Kong is economic hub and to attract the investors from there is good policy.
Dr. Mirza Ikhtiyar Baig (Economist):
This address is historic in nature. It was a policy statement that Pakistan is going to open its markets for foreign investors. This century belongs to Asia and CPEC is one of the biggest projects of history. Our growth rate will increase up to 7 in coming years. This address will restore the confidence of foreign investors.
Dr. Manzoor Khan Afridi (Economic Expert):
OBOR is a great initiative and CPEC is its central project. It will immensely impact on economic and political stability of Pakistan. It will also increase bilateral trade between Pakistan and China. The bilateral trade between the two countries will be doubled till 2030. Also, special economic zones will be established and local industry will flourish as a result. Pakistan will gain access to Central Asian and European markets. In the times of interdependence and globalization, no country can ignore such projects. Few countries are negatively projecting the CPEC and OBOR.
Dr. Noor Fatima (IR Expert):
This is a significant development and OBOR has many sub-projects. A large number of countries will join CPEC and connect with Pakistan. Pakistan will get access to Africa, Middle East and Central Asian republics. CPEC is offering great opportunity to Central Asian countries to reach to sea routes. CPEC will help Pakistan to overcome energy crisis and improve infrastructure of the country. The people with low income will also benefit from this project. The government should give local and foreign investors equal opportunities to improve industrial development in the country. There should be stable, transparent and continuous policies for long term progress.