CPEC upgrades Pakistan's infrastructure, boosts economy: Kadin

CPEC upgrades Pakistan's infrastructure, boosts economy: Kadin

Chairman of the Indonesian Chamber of Commerce and Industry (Kadin) Rosan P. Roeslani during the webinar "Investment Opportunities in China Pakistan Economic Corridor (CPEC)" in Jakarta, Thursday (22/4/2021). (Antara / Azis Kurmala)

Jakarta (ANTARA) - Indonesian Chamber of Commerce and Industry (Kadin) Chairman Rosan P. Roeslani highlighted that the China Pakistan Economic Corridor (CPEC) speedily upgraded Pakistan’s required infrastructure and bolstered its economy.

"The CPEC is aimed at rapidly upgrading Pakistan’s required infrastructure and strengthening its economy through the construction of modern transportation networks, numerous energy projects, and special economic zones," Roeslani stated during the webinar "Investment Opportunities in China Pakistan Economic Corridor (CPEC)" in Jakarta on Thursday.

The Kadin chairman pointed out that a vast network of highways and railways were also constructed under the guidance of CPEC to extend across Pakistan.

"The construction of modern transportation network under CPEC will create better connectivity among various regions throughout Pakistan and connectivity among various countries that will eventually accelerate Pakistan’s economic development," he noted.

Furthermore, Roeslani affirmed that the development of energy infrastructure, including a network of pipelines to transport liquefied natural gas and oils, under the CPEC, will undeniably help address energy deficits in Pakistan.

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"In the light of the above background, it is easily understood that all projects, under the framework of CPEC described earlier, give us a clear picture about how vast the opportunities open in Pakistan that will attract third countries, including Indonesia, to participate in infrastructure development under CPEC," he expounded.

The highlighting of investment opportunities in the CPEC is indeed valuable, but we should not lose sight of the crucial challenges faced in drawing domestic and foreign investment in the corridor, he remarked.

"According to our experiences, several prerequisites are needed, specifically the improvement of competitiveness, credit rating, Ease of Doing Business, liberalization of the Negative Investment List, and bureaucratic and regulatory reforms," Roeslani noted.

The Kadin chairman further stressed on the importance of efforts to create mutual understanding and trust by increasing exchange visits among business players and investors. Related news: Indonesia has potential to lead in electric vehicle production: Kadin