ISLAMABAD: The foreign direct investment (FDI) from China in Pakistan in first three quarters of Financial Year 2015-16 was recorded $516 million, about 150 percent higher as compared to same period of last year. This was informed by Secretary Board of Investment (BoI) Azhar Ali Chaudhry while addressing China-Pakistan Economic Corridor (CPEC) Investment Construction Cooperation Forum in Beijing, a message received from China said on Friday. He said that Pakistan followed a liberal investment regime and all sectors of the economy were open to foreign investment and business opening process had been simplified while foreign investors could hold up to 100 percent equity in manufacturing. “Special Economic Zones that enjoy an incentives package are being established all over the country with efficient infrastructure and one window facility,” he added. He said the CPEC was a multifold development package, which covered not only vital transportation road link but rail and energy links as well. Enhanced connectivity between China and Pakistan would alter the geo-economic landscape of East Asia-West Asia neighbourhood, he said, adding once such connectivity becomes effective, Pakistan would act as a vital bridge between China, Middle East, Africa and Europe. This route could then be used for transportation of oil and gas or laying pipelines and the corridor would drastically shorten the distances for China’s trade that now takes place through the Indian Ocean and the Malacca Straits, Chaudhry added. He said Gwadar Port was the crown jewel of CPEC and was being developed into a full-fledged regional hub and a trans-shipment port. “This port is a gateway to the Gulf, which is an important route for oil tankers bound for western countries out of Gulf,” he explained. He said the government had declared ‘Gwadar’ as a Duty Free Port and a Free Economic Zone. The federal secretary said, “We are planning to establish Special Economic Zones not only in Gwadar but alongside the corridor.”