By Mahnoor
Makhdoom
ISLAMABAD: Chinese companies are taking a lead to establish manufacturing plants in Pakistan’s industrial zones, according to a survey.
Various manufacturing plants have been established by Chinese companies in different sectors since the start of phase II of the China-Pakistan Economic Corridor (CPEC).
The Chinese manufacturing companies in Pakistan will set an example for more foreign companies to invest and build similar production units in Pakistan. This will eventually save foreign exchange reserves on country’s imports. Recently, two Chinese companies reached an agreement to establish a smart phone manufacturing plant in Pakistan. The plant will be established at Faisalabad’s M3 industrial estate, with an initial investment of $10 million.
The agreement was finalized at Faisalabad Industrial Estate Development and Management Company (FIEDMC). Provincial Minister for Industry and Commerce Mian Aslam Iqbal was also present. He welcomed the development and assured that the investors will be provided facilities and complete protection on a priority basis. The local manufacturing of smartphones will also attract foreign investment and earn foreign exchanges via exports.
Pakistan has become an attractive market for the Chinese investors through CPEC and is eagerly awaiting the benefits of relocating the Chinese industry to Pakistan in the second phase of industrialization under CPEC.
