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CPEC attracted $25 billion Investment over seven years: Chinese Ministry

November 5, 2020

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Chinese Foreign Ministry said on Wednesday that China-Pakistan Economic Corridor (CPEC) has attracted a total of $25 billion in foreign direct investment (FDI) for Pakistan .

Foreign Ministry Spokesperson Wang Wenbin during regular briefing cited that significant projects started or completed under the CPEC, a part of Belt and Road Initiative (BRI) launched by President Xi Jinping.

The spokesperson specifically mentioned the Inaugration of Orange Line Metro Line in Lahore, which is the country’s first electric-powered public transport project. “Last month inaugural of the Orange Line Metro Train was an early harvest project under CPEC marking the beginning of the subway era for Pakistan, the spokesperson said.

Wang said that projects completed under CPEC had strengthened Pakistan’s infrastructure and power supply and generated employment opportunities for locals, besides contributing towards the growth of gross domestic product (GDP).

“These projects enhanced infrastructure and electricity supply in the country and created more than 70,000 direct positions and contributed 1 to 2 percentage points of the country’s GDP growth,” the spokesperson added.

Citing Afghanistan as an example which is importing food and other essential items through the Gwadar port, Wang mentioned that CPEC had helped in the integration of these two countries and brought regional connectivity and prosperity.