China-Pakistan Economic Corridor (CPEC) is considered a strategic economic project that aims to promote trade connectivity between Pakistan and China. It is a multi-dimensional project that has opened Pakistan’s rebalancing options from geopolitics to geo-economics. The multi-billion project includes energy projects, infrastructure development, industrialisation, and the expansion and improvement of Gwadar port.
For Pakistan, the project has brought enormous opportunities in both economic and regional domains. It is believed that this project will transform Pakistan into a regional financial hub. In addition, the project has ample opportunities for foreign investors to invest with 100% equity. Foreign investment helps enhance the region’s prosperity, improve business-to-business cooperation, and reduce the burden of loans. It also boosts Pakistan’s economic wealth, increasing its rank in the world’s prosperity and success indexes.
Recently, the government has almost completed 27 projects with an investment of $7.7 billion under CPEC. Besides this, in the energy sector, 11 projects with an investment of $12 billion have so far been completed, while four projects worth $6 billion are under the implementation process, which is expected to be completed by 2025. In addition, thirty-six more projects are in the completion process with an approximate investment of $27.5 billion, which will be completed by 2030.
Another seven projects worth $7.5 billion are expected to be completed by 2030. Furthermore, six socio-economic projects with an investment of $10 million while 11 projects of $90 million will be completed by 2025, and 10 projects of $900 million will be ready by 2030. These new projects include upgrading transportation and communication systems and developing new roads, highways, motorways, railway tracks, and airports to improve connectivity under CPEC.
CPEC is considered a revolutionary project to convert Pakistan’s unique geo-strategic location into geo-economics through various transport-related projects that will transform its road infrastructure and improve access to central Asian, African, and European states.
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