DP World to Transform Port Qasim into Economic Powerhouse

DP World on behalf of the Government of Dubai will be carrying out the development of the economic zone at Port Qasim, with the aim of maximising economic activity in Pakistan. The Economic zone is likely to attract more than USD 3 billion of foreign direct investment to the neighboring nation.

It was in 1997 that DP World first commenced operations in Pakistan at the Qasim International Container Terminal (QICT) – the first of its kind in the country. Ever since the global shipping company has transformed the facility into a leading gateway for global trade in the region.

In addition to this, DP World will also carry out the capital dredging at QICT.

Sultan Ahmed bin Sulayem, Chairman of PCFC and Group Chairman and CEO of DP World, said: “Pakistan is a growing market and an important trade corridor to Central Asia. We are proud to have contributed to its trading ability through our operations at Qasim International Container Terminal and are honoured to work with various Pakistani government organizations to develop new freight systems and with Port Qasim Authority to enhance port connectivity and investment. These will help serve Pakistan’s growing population, forecast to approach 300 million in the coming decade, and integrate it further into the wider region.”

These developments are a result of the Inter-Governmental Framework Agreements signed between the governments of Dubai and the Islamic Republic of Pakistan. The Agreements were signed at the World Economic Forum in Davos, Switzerland, by H.E. Shahid Ashraf Tarar, Federal Minister of Communication, Railways and Maritime Affairs, Islamic Republic of Pakistan, and Sultan Ahmed bin Sulayem, Chairman of Ports, Customs and Free Zone Corporation (PCFC), Government of Dubai, to strengthen their relations in the marine and logistics sectors.

As part of the Agreement, Pakistan will also witness the development of a Dedicated Freight Corridor, which is planned to run from Karachi Port on the Arabian Sea, passing through Karachi, Pakistan’s most populous city, to the Pipri Marshalling Yard, approximately 45kms away. This will improve efficiency, and transport times, and reduce the overall cost of logistics.

Headquartered in Lahore, Pakistan Railways is Pakistan’s national, state-owned railway company, owning and operating nearly 8,000kms of railways across the country, from Torkham in the northwest to Karachi in the south.

H.E. Shahid Ashraf Tarar, Federal Minister of Communication, Railways and Maritime Affairs, said: “DP World has a long-standing proud presence in Pakistan witnessed by mutually rewarding engagement. Building on the unwavering trust and partnership, the two brotherly countries have decided to further consolidate their economic cooperation through landmark projects. The signing of Investment Framework Agreements highlights the importance of Pakistan as a gateway to Asia and commercial dividends associated with its strategic location”.

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