ISLAMABAD: China-Pakistan Economic Corridor (CPEC) is planned to shoot up for a $150-billion investment, and a new whole world of business that will make it the largest economic region.

According to a Khaleej Times report, the connectivity through the CPEC project will enhance trade opportunities for Pakistan, with 70 per cent of the international maritime trade via the country’s two big ports of Karachi and Gwadar.

The plan is to connect three engines of growth South Asia, China and Central Asian Republics and aligning it with the entire south, northern and north western regions.

The latest summit of top government leaders and investors, which concluded in Islamabad, projects the overall international investment in CPEC, covering 2014 to 2030.

Prime Minister Nawaz Shairf had said CPEC is going to change fate of the entire region. “It will eliminate poverty and unemployment and bring the people up front into the mainstream of modern and developed countries.

“The CPEC project is the fusion of President Xi’s ‘One Belt One Road’ with Pakistan’s ‘Vision 2025’, which is sought to harness Pakistan’s geo-political position into geo-economic advantage by connecting the three engines of growth South Asia, China and Central Asia,” said Nawaz.

Federal Minister for Finance and Economic Affairs Senator Ishaq Dar, speaking about the CPEC, its economic fruits, and investment and business potential of Pakistan, at the summit, said Pakistan will soon become the choice destination for foreign investment.

Miftah Ismail, chairman of Board of Investment (BoI) said that on completion of this mega project, Pakistan will be expecting approximately $150 billion international investment in the country into different business and manufacturing centers and investment by Chinese firms.

“The estimate for the projected investment of $150 billion have been worked out on the basis of firm commitments with prospective investors,” he said.

Federal Minister for Planning and Development Ahsan Iqbal said that the connectivity through this mega project will enhance trade opportunities for Pakistan with 70 per cent of the international maritime trade via Pakistan’s two big ports of Karachi and the new Chinese built port of Gwadar.

“Gwadar will fast track exports and import to and from the United Arab Emirates, Gulf Cooperation Council, Saudi Arabia and adjacent regions,” he said.

“About $18 billion worth of projects are in the implementation phase while the remaining portfolios of $17 billion projects are at the preparation stage.”

An amount of $11 billion will be spent on infrastructure; mainly construction of roads and development of Gwadar port.

Speaking at the summit, Chinese Ambassador Sun Weidong said, “We look forward to speedy completion of the projects, included in the CPEC plan. We hope, with its full implementation, it will help create more jobs, provide better health and educational facilities.”