Tax-free zones being established in Gwadar Port would attract considerable foreign investment and generate more employment opportunities, said Islamabad Chamber of Commerce & Industry (ICCI) President Tariq Sadiq in a press statement. He said government's decision to allow China & South Korea to set-up their tax-free Special Industrial Development Zones (SIDZs) in Gwadar would make that port more viable project for accelerating economic activity in the region.
He said an early completion of project by middle of the year 2006 as per directive of President Musharraf to bring it in a speed lane would be a big milestone in the history of Pakistan. He said private sector could greatly benefit from that port because of enormous investment opportunities in warehouses, cold storage, cargo handling equipment and trucking yards, corporate infrastructure, development of industrial zones and industries, hospitals, colleges and schools, oil refinery, industrial export processing zones etc.
Tariq said strategic location of Gwadar port and interconnection through rail network and road would help boost trade and investment opportunities with over 20 countries including Gulf States, Central Asian Republics, Iran, Northwest port of China and India. He said in that scenario, the Gwadar port would emerge as a place of great strategic value, giving tremendous boost to Pakistan's important role in the whole region, extending from Persian Gulf through the Indian Ocean to Southeast Asia and Far East.
He said Gwadar was the best option because it offered ideal conditions for building a deep seaport and less vulnerable to Naval blockade.-PR