Japanese company Bears Inc has placed a $3.2 million order with Pakistani Saffran Group company for creation of an information technology platform for real estate.
On Monday, a press release issued, quoted Pakistan ambassador in Japan Imtiaz Ahmad as saying. “We are happy that Bears Inc Japan has chosen Saffran Group from Pakistan for this product, which will be completed by high-tech IT experts in Pakistan.”
The total cost of product development will be JPY350 million (US$3.2 million), out of which JPY130 million worth of work and an investment road map has already been developed.
The press statement further said, Ahmad held a meeting with Bears Real Estate President Michiyoshi Takuma, and Saffran Group Chief Executive Officer Mirza Asif Baig.
Moreover, the ambassador congratulated Bears Inc Japan and Saffran Group for this project and gave assurance of full cooperation of the embassy and the government of Pakistan for successful completion of the endeavour.
According to statistics by Pakistan Software Export Board (PSEB) and JETRO, this order was one of the largest direct orders of a Japanese corporation to Pakistan in the field of information technology. This will inspire other Japanese companies to consider Pakistan to source IT solutions in various areas from Pakistan.
Furthermore, it would also encourage other Pakistani technology companies to explore opportunities to provide IT services to Japanese companies.
Japanese firm Bold Investment to invest in Pakistan’s tech sector
A Japanese firm, Bold Investment, has established its investment arm in Pakistan with aims to rise growth and potential in technology space of the country.
Bold Investment, based in Tokyo, will look on the tech sector, also will aid scaling up operations along with its investments and acquisitions. Its increased management role will come on the back of its experience in building, scaling and turning around various ventures.