CPEC-II To Feature Multidimensional Corridor Aligned With Pakistan’s 5Es: Envoy

HONG KONG, (UrduPoint / Pakistan Point News - 13th Sep, 2024) Ambassador of Pakistan to China Khalil Hashmi has said that after creating significant employment opportunities and adding 8,000MW of electricity and 800 kilometers of roads in its first phase, the second part of China-Pakistan Economic Corridor (CPEC) would evolve into a multidimensional corridor focused on growth, innovation, and inclusiveness.

The ambassador, addressing the 9th Belt and Road Summit in Hong Kong under the theme "Building a Connected, Innovative, and Green Belt and Road," said the CPEC-II would align with Pakistan’s "5Es" strategy which centered on exports, digital transformation, climate change, energy, and equity.

The summit gathered international leaders, business representatives, and industry experts to discuss the Belt and Road Initiative’s (BRI) future, emphasizing the importance of global partnerships and sustainable development in leveraging Hong Kong’s unique strengths.

The ambassador highlighted Pakistan’s burgeoning IT sector, noting its rapid expansion supported by a growing internet user base and cellular connections.

He remarked that Pakistan’s fintech sector, though nascent, presented substantial opportunities for Hong Kong-based firms to introduce digital banking platforms and blockchain solutions.

He emphasized that while the demand for innovative financial solutions was rising, fintech startups in Pakistan required venture capital investments, which Hong Kong is well-positioned to provide.

The ambassador also stressed Pakistan’s commitment to sourcing 30% of its energy from renewables by 2030. He pointed out the untapped potential in hydropower, solar, and wind, inviting Hong Kong’s financial institutions to collaborate in green energy projects.

He also mentioned the Special Economic Zones (SEZs) under CPEC as attractive locations for Hong Kong enterprises to explore early-bird investment opportunities, particularly in manufacturing and logistics.

During his stay in Hong Kong, Ambassador Hashmi also interacted with Hong Kong leadership and media.