ISLAMABAD: China’s Xinning Enterprise have signed a Letter of Intent (LoI) with Gwadar Port Authority (GPA) to stimulate major industrial and commercial investments at Gwadar Port and its Free Zone, underscoring Gwadar’s growing role as a key regional hub for trade and economic activity.
The LoI signed Tuesday by Yi Jiang, representing Xinning Enterprise, outlines plans for diverse ventures and recieved by Umer Zaffar Shaikh, Additional Secretary of the Ministry of Maritime Affairs on the behalf of Chairman Gwadar Port Authority while Chairman Gwadar Port Authority, Noor-ul-Haq Baloch joined the event through Zoom.
These ventures include developing Gwadar Port as a regional transshipment center, launching new industrial projects, optimizing existing facilities within the Gwadar Free Zone, and relocating industeries.
The Chinese business delegation, headed by Yi Jiang, Director of the All-China Federation of Industry and Commerce (ACFIC) also met with Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry to discuss ways to boost the performance of Gwadar Port.
The minister lauded the partnership as a significant milestone in strengthening Gwadar’s strategic importance.
He highlighted Xinning Enterprise’s potential to boost the port’s throughput, attract foreign investment, and contribute to the broader economic development of the region.
Both parties committed to adhering to Pakistan’s legal and regulatory framework governing Gwadar’s port and Free Zone operations.
They also pledged continued good-faith discussions to identify investment opportunities, finalize operational details, and establish mechanisms for cooperation.
Minister Junaid Chaudhry reaffirmed the government’s commitment to transforming Gwadar into a global maritime gateway and industrial powerhouse, emphasizing that collaborations with reputable international enterprises will accelerate Pakistan’s maritime and economic ambitions.
Earlier, The Gwadar Port Authority (GPA) and a Chinese company agreed to boost investments at the port, the maritime affairs ministry said on Tuesday.
Pakistan recently increased efforts on the commercialisation of the Gwadar Port, which was built more than a decade ago but remains a non-starter. In January, the government sought the private sector’s support in routing their cargoes through the port, seeking detailed proposals to enhance trade. –Agencies
