Shakeel Ahmed Ramay, a political economist and executive director of Zalmi Foundation, a non-profit organization supporting and facilitating the implementation of sustainable development agenda across Pakistan, told Xinhua after the first phase of CPEC, the confidence of international investors has greatly improved which has set the stage for the second phase.

He said investors need basic infrastructure like energy and transport to run their business ventures which Pakistan has been able to overcome with the completion of the first phase of CPEC, adding that "now every other day, a number of delegations and chief executives of international companies are visiting Pakistan for business opportunities, which is going to revive the economic activities in Pakistan."

"Most importantly, special economic zones are being built under the second phase of CPEC that had great potential for attracting investments from across the globe particularly from China," Ramay said, adding that if Chinese companies come to Pakistan with technology transfer for joint ventures and investment, it will create new opportunities for entrepreneurs of both countries and give impetus to Pakistan's exports.

He said an estimated 75,000 jobs have been created during the first phase of CPEC, and over 1 million employments will be generated during the second phase, which will ultimately help Pakistan in poverty alleviation.

Pakistani experts are of the view that the private sector and business community of Pakistan would be the leading players during the second phase of CPEC while the government's role would be mostly of a facilitator, contrary to the first phase which required the leading role of the government.

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