CPEC has attracted $25 billion investments in Pakistan

Category: General

The China-Pakistan Economic Corridor (CPEC) has achieved major progress since its launch seven years ago, bringing a total of $25 billion of direct investments to the country, the Chinese Foreign Ministry said. During his regular briefing in Beijing, Foreign Ministry Spokesperson noted that many projects has been started or completed under CPEC, a dynamic project of the Belt and Road Initiative (BRI) launched by President Xi Jinping. He particularly mentioned the completion of Orange Line Metro Line (OLMT) in Lahore, Pakistan’s first electric-powered public transport project. “Last month as an early harvest project, the Orange Line, was made operational, marking the beginning of the subway era for Pakistan,” he said. Wang said that projects completed under CPEC, had enhanced infrastructure and power supply in Pakistan and created employment opportunities for the locals and contributed towards the growth of gross domestic product (GDP). “These projects enhanced infrastructure and electricity supply in the country and created more than 70,000 direct positions and contributed 1 to 2 percentage points of the country’s GDP growth,” the spokesperson added.  The newly appointed Ambassador of China to Pakistan Nong Rong on Friday -Nov 6 said China wanted to build China Pakistan Economic Corridor (CPEC) as a high quality model project of the Chinese Belt and Road Initiative (BRI).

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