Due to CPEC investments pouring into GB
“The economic benefits of China-Pakistan Economic Corridor (CPEC) are beginning to emerge in a big way as overseas Pakistanis are pouring investment into Gilgit-Baltistan to cash in on the lucrative opportunities in the untapped sectors,” speakers said on a webinar on Gilgit-Baltistan Invest Conference.
The webinar entitled “Roadshow Webinar, USA, Canada, and European countries” which was organized on Sunday night was part of the Government of GB Investment Conference 2022.
The Webinar set the spotlight on GB’s unique feasibility for harnessing responsible investments into equitable economic opportunities for social prosperity while serving as an excellent networking platform for global, national, and regional stakeholders to foster collaborations and businesses.
The speakers said that with the improvement in communication infrastructure under CPEC, construction of motorways, and opening of Karakoram Highway, domestic tourism is growing at a swift pace, triggering a wave of investment in the tourism sector of the northern regions including Gilgit-Baltistan.
Khadim Hussain, Secretary of Agriculture GB, said that in the Federal Government’s special package for GB, the foremost importance has been given to road infrastructure. According to him, besides KKH, another road has been approved between Ghizer and Chitral to connect the region with Khyber Pakhtunkhwa while another project is in the offing to link GB with Punjab via Azad Kashmir. “GB will be the gateway of CPEC when it comes to operation,” Mr. Hussain added.
Khadim Hussain said that construction of Diamer Basha Dam was in full swing and within a few years, the project will start producing clean energy, adding there is potential to invest in hydropower projects.
GB has dynamic tourism potential and provides diverse tourism opportunities for domestic and foreign tourists across the world. Being home to the world’s highest mountain, GB peaks and glaciers fascinate the attention of adventurers, mountaineers, trekkers, travelers, and explorers. The initiative is aimed at attracting and facilitating investments across key sectors including tourism, renewable energy, minerals & mining, trade, commerce, agribusiness, and technology.
Raja Nasir Ali Khan, GB Minister for Tourism, Sports and Culture, said that the government was giving special attention to the promotion of winter sports and was providing excellent facilities to tourists in the area.
“There are lots of potentials to invest in GB. The government will facilitate and solve all kinds of problems the investors face,” Mr. Khan added.
The GB Investment Initiative aims to mobilize private sector impact investments in the region, supporting equitable and sustainable development for the region’s people and local economy while preserving a unique ecosystem.
