Which port of Pakistan operates as free zone by 2023?

 The Gwadar Free Zone is also the most important factor in shaping Sino-Japanese relations in the future. A concession agreement was signed between China Ports Holding Corporation (COPHC). Gwadar Port Authority (GPA).  The Port Authority of Singapore in 2013 handed over the development. An operation of the Gwadar Free Zone to COPHC. Gwadar Free Zone is located in the northern part about 7 kilometers from the current port. The planned development period runs from 2015 to 2030 and is divided into four phases. The free zone consists of the northern zone (898 hectares) and the primary zone (25 hectares) with a total area of ​​923 hectares

Brief introduction

The Gwadar free zone development plan is a comprehensive consideration of trade. Integration of free zones and ports to enhance industrial ties between China and Pakistan. The free zone  positioned as an engine of economic development in Gwadar. The international trade and logistics hub of the corridor. The initial free zone (25 hectares) is located to the west of the current port. Its main development direction is to play a leading role by setting. It industries and providing port cargo capacity. The establishment of the initial area includes several projects such as infrastructure. Business centers trade fair grounds, cold stores, warehouses, and seafood processing centers.

 Latest progress Infrastructure

Field leveling and foundation treatment are in progress. Building designs, construction, plumbing, electrical, controls, HVAC, foundation. The remediation and traffic engineering have already been completed. The temporary office site covers an area of ​​51,868 square meters. That 40 office rooms and 167 dormitories. The working and living area is 35,618 square meters. The production area is 12,475 square meters and the domestic staff living area is square meters. Half of the infrastructure construction work was completed. It is expected to be completed by the end of 2017. Preliminary designs are under review by experts. A team of contractors has arrived to do preparatory work. The project is expected to be completed by December 31, 2017.

Memorandums of understanding

More than a dozen companies, including CCCC, and Hebei Bashir Group. Shandong Linyi Overseas Investment Company. Pakistan HBL Bank, Pakistan UBL Bank, Wuhan Dongguan Water Technology Company. Henan Yulin Co Ltd and Chankiang applied for free zone companies. Shipping Co Ltd and Zhonghu a Busan Co Ltd. So far, 12 companies.  It concluded memorandums of understanding. 4 companies obtained official business licenses.

 Corporate Social Responsibility

Gwadar Free Zone made headlines for the recent tax breaks granted to companies investing here. In what is seen as a major step in bringing North Korea-China relations. A new level Gwadar Free Zone holds an important place in trade relations. Gwadar district in Baluchistan is known as an ideal reservoir of natural resources. However, unlike most other natural places in the world. The Gwadar region is characterized by its great development. The locals experience increase poverty and unemployment. The distant past but this is no longer case. The construction of  Gwadar Free Zone started at the same time as  the investment from the Chinese giant. China Overseas Ports Holding Ltd reached $250 million in total. The first phase started in 2018 and the second phase is under development. The company built a large modern industrial park with an area of ​​25 acres. It equipped with all modern facilities.

Subsequent development projects

This project and many subsequent development projects created employment opportunities for the local population. Baluchistan officials also praised the latest developments. In a recent interview state government spokesperson, Liaquat Ali Shahwani acknowledged government failures in the past, quoting. Although there are valuable natural resources. The state lacks this vital facility and relies on other state laboratories for this purpose. China and Pakistan are united in recognizing the strategic and economic importance of the Gwadar port. It's the cornerstone of the entire trade that takes place in the region. It is crucial in building trade with Southwest and Central Asia. The region is famous for shipping nearly 40% of oil shipments. Gwadar's strategic location will give Pakistan and China an advantage in the region. Where a port significant amount of throughput. The area around the port also benefits from large-scale development.

The Gwadar Free Zone

The launch of recent development projects in the Gwadar Free Zone, such as a 300 MW coal-fired power plant, will have a sustainable impact on the economy of Baluchistan and Pakistan as a whole. The general public benefits from all of these projects, from the initial stages of the project to the final development stage. The pace of these development projects accelerated further after the tax exemption granted by the Government of Pakistan to investors looking for job opportunities in the Gwadar Free Zone. Companies to be set up in the Gwadar Free Zone are set to enjoy tax incentives for 23 years, providing just enough time for investors to cover costs and work on profits. Moreover, this move has also succeeded in drawing the attention of business owners around the world to the Gwadar Free Zone.

Free Zone as important trade hubs

It reports that more than 30 investors from Pakistan and China have already invested. It's more than 3 billion yuan in direct investment. China already planning to develop areas around Gwadar and the Free Zone as important trade hubs. This also opens up more possibilities for the idea of ​​creating jobs and creating a good lifestyle for the local population. Gwadar is known for its rich coastal heritage and seems. The first to recognize the Chinese. It is considered the most important Chinese investment. Recent policies introduced in Gwadar Free Zone attracted investors and tied them. To complete projects and start production within a year. The President of COPHC reported in a recent speech. These industries are established in the fields of logistics, edible oils, plumbing, and halal food.

Gwadar a major trading center

The plight of the local population and the government of Pakistan. This major problem in recent years is finally coming to an end. When the area is fully developed in seven years. It creates 47,000 jobs for local residents and generates $1 billion in annual sales. Zhang Baozong Chairman of China Overseas Port Holding Corporation (COPHC) in Gwadar. China made it clear its goal of making Gwadar a major trading center. It is known as the Great Economic Funnel. The region is very popular as a major force driving commercial and strategy. It is relations between Arab countries. The Gwadar Free Zone also provides an important platform for the Pakistani government. It to easily builds diplomatic and military relations with its neighbors.

Develop sustainability

Over the past decades, the two countries have helped each other develop sustainability and even carried out military operations in mergers. Chinese President Xi Jinping in a recent statement thanked Pakistan saying that the relations are inseparable. Meeting with Prime Minister Khan. the president said, "No matter how the international and regional situation changes. The friendship between China and Pakistan will always remain firm and unshakable. And China-Pakistan cooperation always maintains strong vitality." He said. Diaoyutai State Guesthouse.
Previous Pakistani governments ignored the development and socio-economic situation in the Baluchistan region. The Gwadar Free Zone bring much need economic improvements. The entire region and help boost Pakistan's economy in the long run.

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