ISLAMABAD – The successful construction of the first phase of theChina-Pakistan Economic Corridor (CPEC) played a fundamental role inenhancing the economic ranking of Pakistan at the international level, saidChinese scholar Cheng Xizhong.
At the domestic front, the CPEC contributed a lot easing power shortage,developing Express highway network, improving basic infrastructure networkacross the country.The CPEC’s outcomes showed to the world that Pakistan is becoming animportant platform for foreign investment and regional connectivity.
Cheng in his comments published by the China Economic Net, noted thatPakistan’s ranking has recently jumped from 136 out of 190 countries in theprevious year to 108 this year, and Pakistan ranks among the top teneconomies with the most significant improvement in business environment.
This economic rise of Pakistan, according to Cheng is also because China isthe largest emerging economy in the world and Pakistan is a friendlyneighbor of China.
With the continuous development of the CPEC, the Pakistani economy is moreand more integrated with the Chinese economy.The great achievements of China’s economic development are benefiting therest of the world through the “Belt and Road”, especially Pakistan.
The other reason of the economic rise, is that Pakistan is good atabsorbing the successful experience of China’s reform and opening up andeconomic development.
Prime Minister Imran Khan has visited China three times since he tookoffice August last year, to take benefit of China’s repaid economic growthin context of the two countries’ growing bilateral ties.
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Pakistan has also sent many delegations to China to study the Chinesesuccessful experience.
It was heartening to note that now, Pakistan has begun to reform and openup, and is adopting a series of favorable policies for foreign investment,such as simplifying procedures, establishing special economic zones andimplementing tax-free policies.
When Prime Minister Imran Khan met with Chinese entrepreneurs during hisrecent visit to China, he promised that foreign enterprises would make agood profit in Pakistan.
This has greatly aroused the enthusiasm of foreign enterprises to invest inPakistan, he added.
