CPEC projects attracted over $25b of direct investment from China: Sources

Lahore: The projects under China-Pakistan Economic Corridor attracted 25.4 billion dollars of direct investment from China during the last 10 years, the sources said on Sunday.

According to a senior official of the Chinese Foreign Ministry, after ten years of development, a cooperation layout has been formed, in which Gwadar Port, transport infrastructure; energy and industrial cooperation are the four key areas.

The projects under the CPEC framework have created 192,000 jobs, producing 6,000 megawatts of electric power, building 510 kilometers of highways and adding 886 kilometers to the core national transmission network.

The corridor aims to enhance connectivity and promote economic cooperation between the two countries.

CPEC encompasses a vast network of infrastructure projects, including the construction of highways, railways, ports, pipelines, and energy projects.

The project holds strategic importance for both China and Pakistan. For China, CPEC provides access to the Arabian Sea, allowing for shorter and more efficient trade routes, reducing transportation costs, and securing its energy supplies. It also facilitates the development of Xinjiang and strengthens regional stability.

For Pakistan, CPEC offers significant economic opportunities, including infrastructure development, energy projects, job creation, and foreign investment. It is seen as a crucial element of Pakistan's efforts to stimulate economic growth and address infrastructure deficiencies. The corridor has the potential to boost trade, improve connectivity within Pakistan, and enhance the country's geopolitical position.