ISLAMABAD, Aug. 26 (Xinhua) -- Four Memorandums of Understanding (MoUs) on the Gwadar Free Zone signed on Thursday, in presence of Federal Minister for Ports and Shipping Mir Hasil Khan Bizenjo, at the Business Introduction & Consultation Seminar held at a Karachi hotel.
The Seminar was organized by the Ministry of Ports & Shipping, hosted by the Gwadar Port Authority (GPA), and China Overseas Ports Holding Company (COPHC).
The Securities and Exchange Commission of Pakistan (SECP), North South Transport Network (NSTN), Hascol Petroleum Limited (HASCOL), and Wuhan DongChuan Pipeline Company signed the accords with COPHC at the event.
Acting Chinese Consul General in Karachi, Mu Yongpeng, Chairman Gwadar Port Authority Dostain Khan Jamaldini, Khalid Pervez, Federal Secretary Ports and Shipping, were also present on the occasion.
Chairman COPHC Zhang Bao Zhong kicked off the seminar with a detailed presentation on various incentives offered for the foreign investors at the Gwadar Free Zone, which included competitive handling charges, assurance no demurrage charges, assurance of safety and security of cargos, speedy custom clearance, free storage for up to three months, and a land transport security. He emphasized on the strategic location of the Gwadar Port and invited investors to take advantage of the immense opportunity.
Dostain Khan Jamaldini, Chairman Gwadar Port Authority, shed light on the Gwadar Free Zone policies and incentives and urged the investors to cash in on the opportunity.
Speaking on the occasion, Chief Guest Mir Hasil Khan Bizenjo, Federal Minister for Ports and Shipping, hailed the Chinese government's help in realizing the dream of Gwadar Port. He recalled that Prime Minister Nawaz Sharif had come up with the idea of developing a port in Gwadar on the lines of Shenzhen. He mentioned that the port will help revive economic activities in the Balochistan province. He also paid glowing tribute to the Pakistan Army for ensuring foolproof security to Chinese engineers and investors in Gwadar.