Islamabad, Sep 13: The China-Pakistan Economic Corridor (CPEC) will develop into a multifaceted corridor with an emphasis on growth, innovation, and inclusivity, according to Pakistan’s ambassador to China, Khalil Hashmi, after generating 8,000MW of electricity and 800 kilometers of roads in its initial phase.
Speaking at the 9th Belt and Road Summit in Hong Kong, which had as its theme “Building a Connected, Innovative, and Green Belt and Road,” the ambassador claimed that Pakistan’s “5Es” strategy which focused on exports, digital transformation, energy, climate change, and equity would be aligned with CPEC-II.
International leaders, corporate representatives, and industry experts convened at the summit to deliberate on the future of the Belt and Road Initiative (BRI), with a particular focus on the significance of worldwide collaborations and sustainable development in harnessing Hong Kong’s unique strengths.
He stressed that although there was a growing need for creative financial solutions, Pakistani fintech companies needed venture capital funding, which Hong Kong could supply. The envoy also underlined Pakistan’s commitment to getting 30% of its energy from renewables by 2030. He encouraged the financial institutions in Hong Kong to work together on green energy projects by pointing out the unrealized potential in solar, wind, and hydropower.
He also noted that Hong Kong businesses will find the Special Economic Zones (SEZs) under the China-Pakistan Economic Corridor (CPEC) to be appealing places to investigate early-bird investment opportunities, especially in manufacturing and logistics. Ambassador Hashmi also engaged with the media and the authorities of Hong Kong while he was there.
