ACUTE DRIVERS AND GREAT BARRIERS FOR SUCCESSFUL BLUE GROWTH IN PAKISTAN: AN INVESTMENT PERSPECTIVE UNDER CPEC

The study aims to determine the drivers and barriers of blue growth success in Pakistan from the CPEC perspective. The study has collected 129 responses from the marine and CPEC officials to gain insightful knowledge and understanding of their opinion based on a seven-point Likert scale questionnaire and purposive-criterion sampling technique. The data analysis was conducted using PLS-SEM for estimating the validity and reliability of the model and hypothesis testing. The results showed that four critical barriers had been identified, including uncertainty avoidance, functional strategic focus, prioritization of the short-term growth (rather than long-term orientation), and weak innovativeness. However, the study has also identified that sustainability for businesses, balanced approach between stakeholders and shareholders, and top management commitment/support are major drivers towards blue growth in Pakistan from the CPEC perspective. After conducting the study, it is recommended to policymakers that long-term orientation, the correctness of the strategic focus, and a balanced approach should be mainly emphasized to optimize investment opportunities in CPEC for sustainable blue growth in Pakistan. Moreover, innovativeness should be focus primarily on improving the overall efficiency of CPEC and blue growth in Pakistan in the larger perspective. CPEC is a crucial aspect for blue growth in Pakistan, and therein, a dire need has been highlighted in the literature to undergo the barriers and drivers for blue growth from the CPEC perspective