Islamabad: In the view of the increasing business cooperation between Pakistan and China, a Chinese businessman has decided to initially invest an amount of $50 million in Gwadar for setting up infrastructure for the export of seafood to China. The high-tech processing facility will be set up in Gwadar’s industrial zone to ensure the export of seafood to China. The technology transfer facility will include a large production unit, modern technology, high-quality processing, and cold chain logistics. The 50 million USD MoU between the two companies was signed by Sam Siu, Chairman of Optima Integration Group of China, and Eusha Saleem Bajwa, Chief Executive Officer of Sino Pak Optima Technologies.
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As per details the signing of the MOU between the Optima Integration Group of China and Asia –Pak Investment of Pakistan was facilitated by the board of investment here in Islamabad on Monday. The Chinese Customs has already approved the export of 79 species of fish for exports from Pakistan to China. The MOU will help the two companies to command a premium price and export in bulk. The custom clearing facility for the export of the seafood would also be available on Pakistan soil in Gwadar. The initial investment is expected to create more than a hundred jobs in Gwadar and Karachi. In the second phase of the project, the export of livestock would also be ensured through cold chain transport.
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It is relevant to mention here that Gwadar port is turning out to be a game-changer for the economy of Pakistan. The investment made by the two countries under the CPEC arrangement in Gwadar and surrounding areas has opened up new avenues of infrastructure development, progress, and employment. The ongoing cooperation between the two countries will not only boost economic activities but also play a vital role in upgrading the standard and lifestyle of the local population.