One of the OBOR pilot corridors out of the six corridors is CPEC. The CPEC has been initiated in 2013 and due to its speedy progress, CPEC is now vastly considered as the “flagship” project among the OBOR projects. The CPEC initiatives include; development of Gwadar Port, road, rail and optical fiber connectivity, energy corridor and Special Economic Zones development for bilateral benefits to attain inclusive growth and regional harmonization. Before the inception of CPEC, the growth of Pakistan was curtailed by two major bottlenecks; acute energy shortages and weak local and regional connectivity infrastructures. In 2013, CPEC came with 59 billion US dollars under OBOR and it has been eliminating all major economic bottlenecks. This paper sheds light on the BRI with deep focusing on CPEC. It further represents the Pakistan’s improving economic indicators through CPEC. This paper will also examine some key challenges and their solutions in building CPEC.
Presented at: Fudan University, Shanghai, China
Accepted for Presentation at: 7TH ASIAN MANAGEMENT RESEARCH AND CASE CONFERENCE, LUMS
Accepted for Publication at: “South Asian Journal of Business Studies and Asian Journal of Management Cases”
BRI, Challenges, Connectivity, Corridors, CPEC, Global Competitive Index (GCI), Investment, Infrastructure, OBOR
Yasir Arrfat is Acting Head of Policy-Regional Connectivity, Centre of Excellence-China Pakistan Economic Corridor, Planning Commission of Pakistan, Islamabad, Pakistan, Email: firstname.lastname@example.org, Cell: +92342-7006423, Website: www.cpec-centre.pk