Gwadar port is an important part of CPEC (China Pakistan Economic Corridor) which is expected to play the role of a game changer for Pakistan. For this reason, the government of Pakistan is doing its best to develop the port and its adjacent free zone as early as possible. The neighboring country China is also taking full interest in the development of Gwadar port and Gwadar Economic Free Zone. A major step in this direction was taken in the last days of January 2018 when Pakistani PM Shahid Khaqan Abbasi inaugurated the most-awaited economic free zone of Pakistan. After this inauguration, the Gwadar economic free zone has become operational.
According to details, Pakistan’s Gwadar Port Authority (GPA) owns the port and its related free zone. But Chinese Overseas Port Holding Company will operate the Gwadar Free Zone that is spread over an area of 60 acres. The Chinese company has established a Business Centre in order to provide services for visa, port clearance, immigrations, customs etc. at one place for comfort of investors. This development is a clear indication that the project is heading towards success with right pace and it will become fully functional after few years. A tax exemption policy will be applied for the said free zone as an effort to attract investors from Pakistan and foreign countries.
In order to provide best logistic and infrastructure facilities to investors, the developments like up-gradation of road network, modernization of railway system and new power projects are underway. The biggest problem in Gwadar is the unavailability of fresh water, but this issue will also be handled with the help of Chinese gift of water desalination plant. This plant was also opened recently in January 2018. There are plans for launch of several more desalination plants in the city in order to permanently resolve fresh water issue in Gwadar.
All these recent developments are like breath of fresh air for those who are planning to setup their business in Gwadar Free Economic Zone. If you are an investor and want to take advantage of one of the world’s best free zone of 21st Century, then you can contact Riz & Mona Consultancy for company formation in Gwadar Free Economic Zone. You can do so by using WhatsApp # 971-56-9971225.
