Gwadar Free Trade Zone is a Rs20 billion development project located at a distance of 7 km to the North of Gwadar sea port as a backup port industry. The project is covering an area of 923 hectares. This special economic zone of Gwadar will give a complete exemption of tax and duties. The development of Free Trade Zone is likely to attract businesses especially those who involved transportation. The transport dependent industries such as cargo and shipping will have a viable alternative in the tax free zone. A 250 km road network is recently laid in Gwadar to connect different zones with each other.
The businesses that will be accommodated in the Free Trade Zone of Gwadar are;
Gwadar is considered as the best place in the Balochistan province for the storage of Natural gas. Moreover, the area is rich of natural resources out of which the most considerable one is a natural sea port along with scenic areas and natural parks. The locals of Gwadar has experienced a betterment of lifestyles including increased employment opportunities and the poverty is declining ever since the Gwadar port is constructed under CPEC.
China and Pakistan in unison have realized the importance of trade in the area. In addition to the strategic and economic importance of Gwadar, the trade happens in the area is the core stone. The financial investment projects such as Gwadar Free Trade Zone including others will give a boost to trade especially with the gulf state. The businesses and trade involving the land of Free Trade Zone Gwadar will be exempted from any kind of tax for the next 23 years. This will provide a sustainable environment for the new businesses until they compensate their expenses and become a profitable business.
The establishment of Gwadar Free Trade zone has already gained attention of global investors and it hasn’t stopped bringing businesses from all over the world to the port city. The project has recently got an investment of three billion Chinese Yuan. The investment will help Gwadar to pace up the development project and increasing its potential to create more job and a self-sustaining economy.
As prescribed earlier, the Free Trade Zone will give tax exemption which makes it a heaven for new businesses. By attracting businesses from Gulf state, the Pakistan Government can create strong bonds with these countries. It will be a platform which will offer strong diplomatic and military bonds with the involved neighboring countries.
The bond with the Chinese is already unbreakable and now the Gwadar Free Trade Zone will get global attention. Thus, it is not only good for the overall sustainability of the region and converting Gwadar into a commercial hub but also, people of Gwadar will prosper with leaps and bounds with increased business and employment opportunities.
Thus, if you are looking for some amazing opportunities to establish your business without giving any tax, the Gwadar Free Trade Zone is the best option for you. This opportunity will only bring profits to your business without your business having to pay any kind of liabilities. Hence, the sustainability of your business could be ensured with it.
You can always contact CPEC Investment for further queries and getting more information about this development.