Gwadar Port Authority, Chinese firm agree on industrial, commercial investments

Islamabad: In a significant development poised to elevate Gwadar’s status as a key regional trade and industrial hub, China’s Xinning Enterprise has signed a Letter of Intent (LoI) with the Gwadar Port Authority (GPA). The agreement marks a strategic step toward large-scale industrial and commercial investment at Gwadar Port and its Free Zone, reinforcing the port’s growing role in regional connectivity and economic development.

The LoI was formally signed on Tuesday by Yi Jiang, representing Xinning Enterprise, and received by Umer Zaffar Shaikh, Additional Secretary of the Ministry of Maritime Affairs, on behalf of the Chairman of Gwadar Port Authority. Chairman Noor-ul-Haq Baloch participated in the signing ceremony virtually via Zoom.

According to the agreement, Xinning Enterprise plans to initiate a series of diversified ventures at the port, including transforming Gwadar into a regional transshipment center, launching new industrial projects, relocating industries, and enhancing the efficiency of existing facilities within the Free Zone.

A Chinese business delegation led by Yi Jiang, who also serves as Director of the All-China Federation of Industry and Commerce (ACFIC), met with Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry to explore avenues for enhancing the performance and economic output of Gwadar Port.

Minister Chaudhry hailed the partnership as a pivotal milestone for Gwadar’s development, noting that Xinning Enterprise’s involvement is expected to significantly increase the port’s cargo throughput, attract substantial foreign investment, and contribute to Pakistan’s broader economic growth agenda.

Both parties affirmed their commitment to operating within Pakistan’s legal and regulatory frameworks governing port and Free Zone activities. They also agreed to maintain constructive dialogue to identify further investment opportunities, finalize operational modalities, and establish long-term cooperation mechanisms.

Reaffirming the government’s vision, Minister Chaudhry emphasized the strategic importance of Gwadar, stating that collaborations with credible international partners like Xinning Enterprise will play a crucial role in transforming the port into a global maritime and industrial gateway.