The government of Baluchistan is working on a proposal to make the Gwadar Special Economic Zone (SEZ) a tax-free zone under the China Pakistan Economic Corridor (CPEC) in addition to the implementation of a one-window mechanism to attract local and foreign investors.
Sky Marketing also learned that the industrial zone would consist of three sections in which an educational city and a diplomatic area would also be created. A 250 km long road network has also been developed to promote traffic flow.
More than 40 Chinese firms have committed to invest in the first phase of Gwadar SEZ. In contrast, another 200 companies have enrolled with China Overseas Ports Holding Company (COPHC) for additional investments. The first phase of the special economic zone under CPEC has been completed with these investments.
Future developments in the Gwadar Industrial Zone would include new industrial units, including textiles, chemicals, automobiles, and cell phones, which would create job opportunities for local citizens.
It can be noted here that, marking the end of CPEC projects in Gwadar, this will become the largest port in the region and a robust strategic hub in the world while benefiting numerous countries.