It is the largest investment Pakistan has attracted since independence and largest by China in any foreign country.[265] CPEC is considered economically vital to Pakistan in helping it drive economic growth.[266] The Pakistani media and government have called CPEC investments a "game and fate changer" for the region,[267][268] while both China and Pakistan intend that the massive investment plan will transform Pakistan into a regional economic hub and further boost the deepening ties between the two countries.[269] Approximately 1 year after the announcement of CPEC, Zhang Baozhong, chairman of China Overseas Port Holding Company told The Washington Post that his company planned to spend an additional $4.5 billion on roads, power, hotels and other infrastructure for Gwadar's industrial zone,[7] which would be one of the largest ever sums of foreign direct investment into Pakistan.