In Pakistan, companies, entrepreneurs flock to Gwardar port free zone

GWADAR, Pakistan - Witnessing increasing business for his bank in Gwadar port, a formerly remote fishing village in Balochistan province in southwestern Pakistan, Shakeeb Yusuf said he made the right choice as the robust business growth helped pave the way toward his promotion.

Yusuf has been promoted to the full-time manager of Habib Bank Private Limited's (HBL) branch at the port's free zone after he managed to sign contracts with international business groups to handle their finances in Gwadar.

The manager, who was introducing his bank's products and services Friday at a booth set up at the second international exposition held in the port's free zone, told Xinhua that his branch has opened at least seven active company accounts and over 500 individual accounts during past year. The companies and individuals entered the free zone in the first quarter of 2018.