Wednesday, February 8, 2023

Beijing’s infrastructure development index ranks Pakistan top in South Asia

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Despite Covid pandemic and a consequent trend of an overall decline in the South Asia region, Pakistan has progressed one spot in the Belt and Road Infrastructure Development Index (2021) and claimed 5th position globally in infrastructure development, ARY News reported.

In the annual report on the Beijing based development and progress of countries part of one belt one road project, performances of 71 countries were covered including 63 nations involved in the Belt and Road Initiative (BRI).

The Report, jointly published by the China International Contractors Association (CHINCA) and the China Export and Credit Insurance Corporation, was released late last month at the 12th International Infrastructure Investment and Construction Forum (IIICF) held for two days in Macao.

Southeast Asia ranked first among the seven regions, the report said. Indonesia, Malaysia, the Philippines, and Vietnam taking the top four places. The Central and Eastern European regions ranked at the bottom maintaining their last year record.

South Asia was the only region conceding a fall from their erstwhile status, declining from third to sixth place in the index owing largely to a severe blow dealt to the infrastructure development by the rampant coronavirus spread, according to China Economic Net (CEN).

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The report pointed out that the overall index in 2021 rose to 113 from 110, turning the downward trend in 2020.

This was largely attributed to easy fiscal and monetary policies put forward by major economies around the world and the global campaign of accelerating vaccination.

The economy of the BRI countries has been recovering from the pandemic, driving the rebound of the infrastructure sector, the report suggested.

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