By Samia Khalid
ISLAMABAD, May 16 (INP-WealthPK): Gwadar is on the fast track to development, promising billions of dollars worth of revenue and thousands of jobs in the next few years, reports WealthPK.
This warm water seaport in the resource-rich southwestern province of Balochistan has witnessed a wave of development projects opening up new avenues of employment and businesses.
It is expected that 80,000 trucks will move daily from China, Russia, and Central Asian countries towards the port, enabling Pakistan to earn approximately USD20-25 billion annually.
According to a CPEC Authority official, Gwadar Port and Gwadar Free Zone phase 1, spread over 60 acres of land, have already been completed and are fully operational, with 46 enterprises already registered. The Afghan transit cargo has started being processed through the port.
The ground-breaking of Gwadar Free Zone phase-II, which is thirty-five times bigger than the first phase and spreads over 2200 acres, has already been done. It is expected that the economic activity at Gwadar Port and Gwadar Free Zone will generate $10 billion annually and create around 12,000 jobs in the next three years.
According to the Gwadar Development Authority (GDA), construction work on the East Bay Expressway is almost complete, and its expected inauguration will be held in the current month.
The New Gwadar International Airport (NGIA) – the $246 million greenfield airport being built over an area of 4,300 acres – is expected to be operational by September 2023.
Recognizing the strategic importance of Gwadar port, China launched the CPEC project. Under this project, Special Economic Zones (SEZs) will be established in major cities of Pakistan and companies from all over the world will shift their industries there.
Gwadar Smart City Master Plan is in the implementation stages to improve the city infrastructure with provision of modern facilities. It is expected that with the completion of development projects, the residents of Gwadar will earn 10 times more than their compatriots living in the other parts of the country.
Gwadar is one of the most beautiful beach cities in the world. It is not only a hub of business and economic activity, but also a hub of tourism. As a hot water port, it enables trade all the year round with naturally made hammerheads.