China starts offering GPEZ infrastructure to foreign investors 01-Sep-16
KARACHI: Chinese company began offering Gwadar Port’s Economic Zone (GPEZ) infrastructure facilities to foreign investors to manufacture, operate businesses and compete with regional market. China Overseas Port Holding Company (COPHC) has started inviting foreign companies to establish businesses and take opportunities from concession agreement that allows 23 years tax holiday and other benefits for international investors to establish businesses in the proximity. According to COPHC, Gwadar is uniquely located at junction of One Belt One Road, specifically designed to provide the most promising investment opportunities for business. Gwadar is deep water port and major player in inter-region trade due to its proximity to the key shipping routes. Gwadar Free Zone shall bring extensive economic benefit like tax holiday for 23 years and land lease for 99 years to upcoming businesses. Gwadar city and port facilities master plan was designed by United States based company, Arthur D. Little which was considered as futuristic and able to cater all facilities till year 2050. Chinese company will built special economic zone on 923-hectare (2,300-acre) area with tax holidays for next 23 years for those establishing there businesses in proximity of Gwadar. Gwadar Free Zone provides most attractive incentive package, connectivity to regional trade hubs and pro-business policy frame work. Free Zone is located at major destination and gateway of China-Pakistan Economic Corridor and provides opportunities and a window into land-locked central Asian Republics. It will boost global market presence by attracting businesses, foreign investments in general trade, services, manufacturing, logistics, bunkering and trans-shipments. COPHC entered into concessions agreement to take over Gwadar Port operations and management from Port of Singapore Authority (PSA) Gwadar in mid 2013.