ISLAMABAD: The Pakistani entrepreneurs have attached great expectations with the development projects being executed in the country under China-Pakistan Economic Corridor (CPEC), WealthPK reports.
The industrialists believe that CPEC projects including the establishment of special economic zones will promote commercial activities in the country. The projects will provide massive opportunities to local entrepreneurs and traders to expand their businesses.
The huge Chinses investment will help Pakistan to create a business-friendly environment. An increase in economic activities will also benefit local entrepreneurs besides creating millions of jobs across the country.
The projects under CPEC will enable local companies to enter into partnerships with foreign firms. The Pakistani companies can also launch joint ventures with Chinese firms to do business with clients in other countries of the world.
Currently, the execution of CPEC projects has caused an increase in the production of steel and cement in Pakistan, providing opportunities to the industrialists to establish new businesses. CPEC will attract more investment and bring industrialisation to Pakistan.
According to research, conducted by Shamsa Kanwal, a post-doctorate scholar at the Hefei University of Technology of China, entrepreneurship is an engine of economic development in the country. The entrepreneurs understand the market dynamics and identify profitable businesses.
Shamsa Kanwal told WealthPK that the attitude of local industrialists towards CPEC was studied during the research using a sample of 255 questionnaires. The results of the survey showed that improvement in local transportation and accessibility to cities owing to CPEC had a positive effect on the attitude of entrepreneurs and industrialists.
“The attitude of entrepreneurs is positive about the CPEC projects. Our research shows that with the development of CPEC, local transportation infrastructure will also improve and small villages will be connected with big cities. It will enable the local community to engage in different kinds of businesses along the CPEC route. The people can establish workshops, retail or wholesale shops, restaurants and hotels along the CPEC route. They can sell local goods to Chinese customers,” said Ms Kanwal. She said that policymakers and relevant authorities should publicise the advantages and benefits of the CPEC projects. The local traders and industrialists should be informed about the importance of CPEC and its impact on the development of the region. An awareness drive should be launched and conferences should be arranged throughout the country wherein relevant officials and scholars can inform the business community and local people about the opportunities being created for them under CPEC. –Agencies
