Infrastructure Enhancement In a significant stride towards fortifying their alliance in the marine and logistics domains, the governments of Dubai and Pakistan have formalized two inter-governmental framework agreements. This momentous occasion, celebrated at the World Economic Forum in Davos, Switzerland, sets the stage for collaborative endeavors, focusing on transformative initiatives such as the potential establishment of a Dedicated Freight Corridor and an Economic Zone near Karachi.
Dedicated Freight Corridor: Revolutionizing Connectivity and Efficiency: Infrastructure Enhancement
At the heart of this collaboration is the ambition to develop a Dedicated Freight Corridor, envisioned to stretch from Karachi Port on the Arabian Sea through Karachi to the Pipri Marshalling Yard, covering an expansive distance of approximately 45km. The primary goal is to enhance operational efficiency, reduce transportation times, and strategically curtail overall logistics costs.
Key Stakeholders and Collaborative Development: Infrastructure Enhancement
The execution of these visionary projects will see the pivotal involvement of DP World, representing the Dubai Government. On the Pakistani front, state-run entities such as Pakistan Railways and Port Qasim Authority will join forces, ensuring the successful realization of these transformative initiatives.
Capital Dredging and Economic Zone Advancements: Infrastructure Enhancement
The second framework agreement, inked with Pakistan’s Ministry of Maritime Affairs, places a spotlight on capital dredging for the navigation channel. DP World, acting on behalf of the Dubai Government, assumes a leading role in this dredging initiative. Additionally, the agreement charts out the blueprint for an Economic Zone at Port Qasim, with a targeted influx of over US$3 billion in foreign direct investment. DP World, spearheading the development, aims to maximize economic activities in Pakistan through this strategically planned economic zone.
DP World’s Enduring Legacy and Collaborative Pledge: Infrastructure Enhancement
With a robust presence in Pakistan since 1997, DP World has been a transformative force, notably at the Qasim International Container Terminal (QICT), a beacon for global trade in the region. Sultan Ahmed bin Sulayem, Chairman of Ports, Customs, and Free Zone Corporation (PCFC) in Dubai, underscored the pivotal role of Pakistan as a burgeoning market and a crucial trade corridor to Central Asia. He expressed pride in DP World’s contribution to Pakistan’s trading capabilities and reiterated the unwavering commitment to collaborative initiatives with various Pakistani government organizations.
Sustaining Long-term Economic Synergy: Infrastructure Enhancement
Shahid Ashraf Tarar, Pakistan’s Minister of Communication, Railways, and Maritime Affairs, reflected on the enduring and fruitful engagement with DP World in Pakistan. Recognizing the strategic significance of Pakistan as a gateway to Asia, he emphasized the consolidation of economic cooperation through these landmark projects. The strategic location of Pakistan and the substantial commercial dividends associated with this collaboration are poised to catalyze long-term economic growth and connectivity in the region.
This collaborative partnership serves as a testament to the shared commitment of Dubai and Pakistan to usher in an era of economic prosperity, heightened connectivity, and substantial foreign investments, fostering sustainable growth and development in the region.
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