The largest automobile manufacturer of China is going to start manufacturing electric vehicles in the private special economic zone (SEZ) of Pakistan in Raiwind.
The meeting of SEZ held in Islamabad announced that China’s largest automobile manufacturer is all set to start manufacturing electric vehicles in the country. During the meeting, the Board of Investment admitted the MG JW Automobile Pakistan Pvt Ltd as a ‘zone enterprise’ in the JW-SEZ, Raiwind. The electric vehicles would be manufactured by the company with an estimated foreign direct investment of Rs663 million and the local investment of Rs637 million.
Officials say that Bol has received the ‘Zone Entry Application’ of MG JW Automobile Pakistan Pvt Ltd through its recently launched ‘SEZ MIS Module’, it acts as a one-window for SEZs in the country. The design of the module will facilitate real investors from all over the world in getting admission into SEZs and ensures complete transparency.
Moreover, MG Pakistan is a joint venture between JW SEZ and SMIL. SAIC is a Chinese state-owned multinational automotive design, also it is a manufacturing company, headquartered in Shanghai. BoI Chairman Atif Bokhari, while speaking to the media said that the initiation of the first private SEZ in the country is evidence that the government is completely committed to facilitating private investors for speedy industrialization.
Meanwhile, BoI Secretary Fareena Mazhar also said that SEZ MIS module’s launching is a leap into the digital future of SEZ-led Industrialization. BoL says that both local and foreign investors interested in Pakistan’s SEZs can directly register online and submit their applications and their applications will be shared with concerned authorities.
It would not be out of place to mention here that the government has planned to make 30% of all new cars, trucks, buses, vans, and jeeps, and 50% of all two-, three- and four-wheelers electric vehicles by 2030.