Pakistan’s China Overseas Port Holding Company economic performance has improved significantly in recent years, reflecting a strong commitment. and a series of serious initiatives by the Pakistani government and people. The construction of the Gwadar deep-sea port aims. to further enable Pakistan’s economic development in the coming decades and beyond. Gwadar has great potential from all angles. and dimensions for all kinds of businesses. It doesn’t matter if it’s a well-known or a start-up with ever-evolving technology. A deep-sea port and its location makes it a gateway. and hub for global business and trade, accommodating.
International business activity:
All kinds of international business activity from one business. to another regardless of volume, volume or size. China Overseas Port Holding Company Pakistan is a subsidiary of COPHC, a fast-growing start-up in Hong Kong. Registered regional office in Pakistan. His China Overseas Port Holding Company Limited. took over leadership of the recently developed Gwadar Port. and Free Zone for 40 years on 16 May 2013 (by concession agreement). The company aims to develop. the region’s most strategically located port into a center of maritime trade. for the entire inland Central Asia region (CAR), especially across the region. including Pakistan. US researchers emphasize Gwadar’s potential to become an important port. At that time, Gwadar was under Omani rule. In 1958, Pakistan purchased the port of Gwadar from Oman. Since then, various attempts have made to turn Gwadar into a port city.
Singapore Port Construction:
Unfortunately, due to lack of funding. and continuity of government policy, the initiative never materialized. In 2002, the Government of Pakistan. took the development of Gwadar Port seriously. and handed over operational control of Gwadar Port. to the Singapore Port Construction Authority. In 2007, the company completed the first phase of development and opened the port. The Singapore Port Authority failed to meet the deadline for the second phase. and in 2013 the operational management of Gwadar Port. handed over to China Overseas Ports Holding Company (COPHC)
Company aims to develop Gwadar:
On May 16, 2013, COPHC took command of the recently developed Gwadar Port and Free Zone. The company aims to develop Gwadar Port to function efficiently as a transit hub. for regional trade. Within the framework of the China-Pakistan Economic Corridor. Hong Kong-based COPHC. is actively involved in the development of Gwadar Port with a range of projects. Pakistan has handed over operations of Gwadar port. to a Chinese company for 40 years, and Ports. and Transport Minister Mir Hasir Khan Bizenjo said today. It has registered a regional office in Pakistan. The minister said the China Overseas Holding Company will carry out. all the development work at the port. “The China Overseas Port Holding Company owns 91% of. the revenues collected from the terminal. and offshore operations. and 85% of the total revenues from the free zone operations.”
Seafood processing plants:
Bizengo said states are not involved in collecting revenues under the constitution. Gwadar forms Pakistan’s southern hub. for the China-Pakistan Economic Corridor (CPEC). an infrastructure and energy project worth $57 billion announced by Beijing in 2014. Last year, Pakistan welcomed the first large-scale shipment of Chinese goods to Gwadar. with the China Overseas Port Holding Company taking over operations in 2013. Ultimately, he plans to process 400 million tones of cargo from 300 million annually. Seafood processing plants in the adjacent free trade zone cover 2,281 acres (923 hectares). A route through Gwadar would offer China. the shortest route to the oil-rich Middle East, Africa. and most of the Western Hemisphere. and promise to open up the remote and landlocked Xinjiang region.
Its development model:
Last year, the Center for Applied Economic Research estimated. that the corridor would create 700,000 jobs. for him in Pakistan, and a Chinese newspaper recently put the number at more than 2 million. and what does that mean? Many argue that China exports its development model and imposes. in other countries. Chinese players are adapting. and absorbing local traditional forms, norms and practices. while expanding their influence through local actors and institutions. With generous multi-year grants from the Ford Foundation. Carnegie has invested in Africa, Central Asia, Latin America. the Middle East and North Africa, the Pacific, South Asia, and Southeast Asia. This project combines research and strategy meetings to explore these complex dynamics. This includes how Chinese companies adapt to local labor laws in Latin America.
Project aims to greatly expand:
How Chinese banks and funds explore traditional Islamic finance. and credit products in Southeast Asia and the Middle East. and representatives will help Chinese local workers develop their skills in Central Asia. These adaptive Chinese strategies. that internalize and function within local realities are often ignored. especially by Western policy makers. Ultimately, the project aims to greatly expand the understanding. and discussion of China’s role in the world and generate innovative policy ideas. This could enable local players to better direct China’s energy. to support their own societies and economies. Provide lessons for Western participation around the world, especially in developing countries. Helping the Chinese policy community learn from the diversity of China’s experience. and potentially reduce friction.
Geopolitical implications:
Carnegie Endowment for International Peace Vice President. Since its official launch in April 2015, the China-Pakistan Economic Corridor. CPEC is one of a series of high-profile projects. under the auspices of Chinese President Xi Jinping’s Belt. and Road Initiative. . Injecting about $25 billion into Pakistan. The Pakistan Economic Corridor is not only dubbed the Belt. and Road Initiative’s “flagship project. it also plays a central role in Beijing’s global ambitions. Much has said about the geopolitical implications of economic corridors both in India. and the United States. but it is important to provide detailed insight. into how the Belt and Road Initiative will evolve on the ground. did not receive much attention. Pakistan. How will China and Pakistan negotiate the terms of the CPEC agreement? How effective has Islamabad been in its dealings with Beijing? How has China adapted to the conditions in which it operates?
Also read: Gwadar Protest
