The Gwadar Free Zone North, also known as Phase II, is soon going to start its first official operations, which is a significant milestone in the China-Pakistan Economic Corridor (CPEC). The zone covers a large area of 2,221 acres and will benefit from tax exemptions and customs duty waivers for a period of 20 years.
Agven Private Limited, an export fertilizer company, will be the first investor to establish an industry in the Gwadar North Free Zone and plans to begin production in early August. They have acquired 10 acres of land and will initially use temporary arrangements for utilities provided by the China Overseas Port Holding Company. The construction of their factory will create job opportunities and boost local business activities.
Hangeng, another export company focusing on agriculture, livestock, and aloe vera cultivation, is also preparing to start operations in the Gwadar Free Zone North. These initiatives are expected to generate employment opportunities for the local population and contribute to the development of Gwadar’s industrial ecosystem.
