CPEC in the Second Phase and its implications on business practices in Pakistan

Abstract

Nearing the completion of various ‘early harvest’ projects of first phase, such as power generation, motorways, infrastructure projects, fiber optics and technological advancements, the CPEC is about to enter into its second phase. At this level, Pakistan eyes for economic stability and development, through innovative business practices, agricultural developments, trade expansion, and human resource development. This paper highlights various developments related to the second phase of CPEC, and highlights how Pakistan can take advantage of available energy and infrastructure to set directions for a next level economy. Components related to this phase of CPEC and their impact on the fields of business management, IT advancement, future SEZs and their implications for business organizations, broadening of agricultural and food industry for local and Chinese food demand, advancement in science and technology, social sector development programs focusing on human resource development, and enhancement of exports to China through innovative business practices, have been discussed in detail. Finally, it has been concluded that CPEC can be a harbinger of prosperity for Pakistan in all of the mentioned areas subject to condition that Government of Pakistan and business community adopt innovative business practices using sustainable technologies to take Pakistan further on the path of development.