It shouldn’t come as a surprise that with the advent of CPEC, Pakistan has become an attractive investment destination. Many foreign investors are showing interest to establish their presence in the country. The Bank of China is also planning to open a branch in Gwadar, said Chairman Gwadar Port Authority Dostain Khan Jamaldini in a meeting with the president of the Summit Bank, Zaheer Esmail.
Jamaldini claimed that once the Gwadar Deep Seaport becomes operational, many international and national banks will come to the city. Furthermore, he said that the Bank of China will soon start its operations in Gwadar.
“Business and trade activities will flourish in Gwadar with the opening of branches of different national and international banks,” he said. For the time being Gwadar Port Oversees and Port Holding has given permission to only two banks in Gwadar and one of them is the Bank of China, he added.
Moreover, the chairman claimed that work on the Gwadar Free Zone is in progress and the construction work is expected to complete in the next few months. Jamaldini highlighted the fact that Chinese and Pakistani are collaborating and working in three shifts to complete the construction of the Gwadar Free Zone.
He also disclosed that during the first week of December, Prime Minister Shahid Khaqan Abbasi along with some Chinese minsters will inaugurate the first International expo center in the free zone. More than 100 Chinese companies are scheduled to attend the event.
We believe that this is a great initiative as it will be fruitful for both nations in the longer run. In any case, we’ll continue to track the story to keep our readers updated.