Chinese group to set up smartphone manufacturing industry in Pakistan

[Edevelop]

ISLAMABAD: A delegation of Chinese information technology (IT) investor group on Friday assured to set up a smartphone manufacturing industry in Pakistan on the fast track. This assurance was made by Lou Peide Secretary General of Chinese Mobile Companies Association and head of the IT investor group in a meeting with Ishaq Dar the Finance Minister. The meeting was held in the premises of the Finance Ministry. The meeting was attended by Anusha Rehman, Minister of State for Information Technology, Finance Secretary, Secretary Ministry of IT, Chairman Federal Board of Revenue, Chairman Board of Investment and senior officials of the Finance Ministry. Finance Minister while chairing the meeting assured the group of investors that their concrete proposal prepared in consultation with the Ministry of IT and the Board of Investment will be considered seriously to develop local mobile manufacturing units in Pakistan. He further assured the Chinese investors group that the government will provide incentives for local manufacturing of smart phones and IT related solutions during the next three years. The Finance Minister also briefed the investors on the latest economic indicators and performance of economy during the last one year. He also discussed the proposed budget which provides special incentives for the foreign investment in Pakistan. He informed the delegation that Foreign Direct Investment in IT sector will enjoy special corporate tax rate for the next five years if they complete their projects in three years time period i.e. till 30th June, 2017. He also informed that Pakistan has educated and skilled young labor force and it can be used as export base to the whole region. Mr. Lou Peide informed that the group comprises of famous Chinese companies in smart phones manufacturing sector. He said that the delegation is in Pakistan to share Chinese experience as Pakistan’s domestic market presents a huge opportunity for manufacturing of smart phones capable of 3G/4G technology. He mentioned that with nearly 200 million population and high growth rate in mobile industry there is a huge requirement for local manufacturing units in the Country. He informed that Chinese companies own almost 80% of the global market and produce smart phones with the cost from US $22 to US$600. He said that we have introduced multiple operating system and solutions to security requirements.

Chinese group to set up smartphone manufacturing industry in Pakistan

 

[l'ingénieur]

This is good to hear. We need companies to set up in Pakistan. It will create Jobs.