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ISLAMABAD, Sep 1 (APP):Dr Hassan Daud Butt, former Project Director of the China-Pakistan Economic Corridor (CPEC), Senior Advisor at the China Study Center and Energy China Pakistan highlighted the significance of CPEC Phase-II, emphasizing that the new phase would lead to increased foreign direct investment (FDI), generate vast employment opportunities and promote national exports.
Speaking to the media here on Monday, Dr Hassan Daud Butt said that during the first phase, major work was carried out in the areas of energy, infrastructure and communication. In contrast, the second phase would witness accelerated progress in industrial cooperation, agricultural development, socio-economic projects and high-technology sectors.
“CPEC is the flagship project of China’s Belt and Road Initiative (BRI), which has now entered its second phase,” he said.
He further stated that the Shanghai Cooperation Organization (SCO) summit and the engagements of Prime Minister Muhammad Shehbaz Sharif in Beijing held great importance with regard to CPEC Phase-II.
“These developments are sending positive signals for Pakistan’s economy and it is expected that Pakistan will emerge as a hub of trade and economic activity in the region,” he added.
He emphasized that policymakers, the private sector and academic institutions should work closely together to fully capitalize on the opportunities offered by CPEC.