An agreement has been reached between two Chinese companies at the FIEDMC office to establish a smartphone manufacturing plant in Faislabad, Pakistan.

As per details, the agreement was signed in the presence of Provincial Minister for Industry and Commerce Mian Aslam Iqbal, between Vice President VIVO Duam Tai Ping and Director Manufacturing Zhang Bin at the FIEDMC office.

Under the agreement, Chinese companies will jointly set up the first smartphone manufacturing plant at M3 Industrial Estate, Faisalabad. Initially, Chinese companies will invest $10 million in the project. With the setup of the manufacturing plant, smartphones will be manufactured locally.

The Provincial minister welcomed the development saying that local investors are turning towards Punjab due to the beneficial policies of the Punjab government. The provincial minister said that the investors will be provided facilities and complete protection on a priority basis, he said