ISLAMABAD - As one of the pillars of CPEC, the Gwadar Port is providing a series of convenience measures for investors and paving the way of tourism for socio-economic development in Baluchistan, says a report by Gwadar Pro yesterday.
The report quoting Chinese scholar Prof. Cheng Xizhong, stated that the continuous development of CPEC, especially the construction of Gwadar Port, has brought new hopes to Balochistan, which has been poor and backward for a long time and has also created conditions for the development of tourism and cultural industry in the province.
At present, the Gwadar Port has great potential in sewage treatment, power generation, entrepot trade of oil and gas, storage, and development of export bonded areas.
More than 30 investment companies from China so far have invested RMB 3 billion. The new airport and other infrastructure projects are under construction. In future, the infrastructure level of Gwadar Port will reach a height.
In terms of investment, in addition to the preferential measures of the federal government, the Balochistan government has also provided 23-year tax exemption, 100% exemption of equipment import duties at the construction and operation stages of the project, 99-year land lease, flexible visa management measures, supporting infrastructure and security measures.
At present, Balochistan has two special economic zones under development, namely Bostan special economic zone and Hub special economic zone. In the economic zones, the government has provided a series of incentive policies, including the preferential supply of natural gas, electric power and other infrastructure, friendly visa policy for enterprises entering the zones, one-time reduction and exemption of import tariff of machinery and equipment.
It is worth mentioning that the security situation in Balochistan has improved to a certain extent due to the government’s effective measures. If Balochistan continues to make efforts to fundamentally improve its security situation, it will greatly attract international tourists and tourism and cultural industry will be greatly developed.