Iran eager to be a role player in CPEC, foresees $150 billion upcoming investment in Pakistan.
China-Pakistan Economic Corridor (CPEC) is projected to gain a rapid boost for a $150 billion direct investments, catering different businesses, manufacturing and power sectors, uplifting the Pakistan Economy. This mega project is a game changer in terms of economic growth in the region.
CPEC is strategically planned to connect three regions of Asia. South Asia, China and Central Asian countries. CPEC will blaze a whole new trail as it is considered as the largest direct investment ever considered by any country in the history of Pakistan.
CPEC has been a key interest for international investors to put their direct investments in economic reforms done under this mega project. CPEC is not only a game changer for the entire region, but also a fate changer for Pakistan as it will help to eradicate poverty and unemployment and economic stability will uplift the nation into the mainstream of developed countries.
Exceptional rise is seen in various sectors like power, hospitality and many more is only made possible with the help of $46 billion direct investment made by our neighbor country and CPEC partner, China. $18 billion investment in projects are in the implementation phase while $17 billion worth projects are in the pipeline. Infrastructure and development of Gwadar port and roads covering all the four provinces are estimated to cost $11 billion under the CPEC.
Iran willing to be a role player in CPEC
Iranian Ambassador Mehdi Honardoust valued CPEC and said that Iran is eager to collaborate with Pakistan and China in terms of the greatest project in the history of the entire Asian Region. Iran is capable to facilitate the economic growth of Pakistan through energy supplies, construction in sector of roads, railways and dams, he said while visiting the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
Pakistan’s textile, agricultural, surgical and sports goods are demanded in Iran, he further added.
Unfortunately, trade between two countries is currently limited due to unavailability of proper banking channels to fund transactions. Mr. Honardoust mentioned that Iranian gas is provided with very low prices and must be considered as the fastest and reliable resource of energy for Pakistan. Iran is expected to complete its $2 billion gas pipeline project for Pakistan.
Bilateral trade and a healthy relation between the two economies is expected to sustain as Iran shows its interest in stimulating Pakistan’s economy, foreseeing speedy completion of projects and investments coming in the country under the umbrella of CPEC.