Effect of SCO Summit Implemented in Pakistan! First Major "Going Global" Project Originated from and Initiated by SCODA Signed

2022-08-24 09:15:44 admin source: share:

At the Belt and Road Trade & Investment Enterprises Fair of the Third Qingdao Multinationals Summit, Pakistan's Gwadar Port oil refining and supporting terminal project, initiated and coordinated by the Administrative Committee of SCODA and Pakistan China Center, made its debut at the group signing. This is the first "going global" foreign investment project originated from, initiated by and registered at SCODA. It gathers multiple elements of business attraction such as "government + platform company + top enterprise + private capital", and highlights SCO elements, thus holding great significance and playing an innovative, leading and demonstrative role in the construction of the two-way investment center of SCODA.

"We believe that it is strategically important to invest in the Gwadar Port in Pakistan." said the head of the project at the summit. "Gwadar deep-water port is an important port in Pakistan. It is only 400 km away from the Strait of Hormuz, the main channel for the world's oil supply. It is of great strategic significance to the global oil supply and will directly strengthen China's energy security and international influence."

Gwadar port is a gateway for transit trade of East Asian countries and Central Asian inland countries, having important strategic status and economic value. The construction and development of Gwadar port is an important measure of China and Pakistan in international cooperation to build a community of shared future and all-weather strategic cooperative partnership between the two countries, guided by the Belt and Road Initiative and the planning of the China-Pakistan Economic Corridor.

It was introduced that, the project plans to build a refinery with a capacity of 8 million tons in Pakistan to produce automotive fuel oil, ship fuel oil, road asphalt, polypropylene and other chemical products, which is expected to create 3,000 direct jobs and 200,000 indirect jobs in Pakistan. "In order to ensure the smooth progress of the project, the Administrative Committee of SCODA has held project promotion meetings multiple times, studied various policies to support 'going global', and coordinated all parties to promote the project process. We are encouraged and full of confidence!" the Head of the project said.

In addition, the project will set up a unified outbound investment platform at SCODA, gather resources such as logistics, talents and capital flow, and gradually build investment headquarters, a settlement center and a training center for Pakistani local staff.

"Phoenix will come to perch on the tall plane tree, and butterflies will be attracted by fragrant flowers". Since the beginning of the construction of SCODA, more and more enterprises have gathered here and taken it as a platform to actively conduct two-way investment cooperation with SCO countries. Meanwhile, SCODA has also stepped up efforts to provide more policy facilitation and direction guidance for enterprises to bring in and go global, and build a new platform for Belt and Road international cooperation with the open and cohesive strength of SCO.

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