ISLAMABAD: The Board of Investment (BOI) on Saturday decided to facilitates entry of China’s largest automobile manufacturer in Pakistan and first private Special Economic Zone (SEZ) in Raiwind, Punjab.
With an estimated Foreign Direct Investment (FDI) of Rs. 663 million and local investment of Rs. 637 million MG JW Automobile Pakistan Pvt. Ltd was granted admission in JW SEZ, Raiwind, Punjab, as “Zone Enterprise”, said a press release issued by BOI here.
During an Special Economic Zones (SEZ) committee meeting of Pakistan’s first private sector JW-SEZ China-Pakistan SEZ Raiwind, Board of Investment (BOI) facilitated the entry of China’s largest automobile manufacturer to bring electric vehicles in Pakistan. It will establish Electric car manufacturing plant.
MG JW Automobile (Pvt) Ltd (MG Pakistan) is a joint venture between JW SEZ (Pvt) Ltd, and SMIL which is a subsidiary of SAIC Motor Corporation Limited. SAIC is a Chinese state-owned automotive design and manufacturing company headquartered in Shanghai, with multinational operations.
It is the largest auto manufacturer in China and the seventh largest in the world. In 2006, SAIC purchased the prestigious British brand “Morris Garages (MG)” and it is now marketing automobiles under that brand all over the world.
Federal Board of Investment, Islamabad, received the Zone Entry Application of MG JW Automobile Pakistan Pvt. Ltd through its recently launched “SEZ MIS Module” which acts as a one-window for SEZs in Pakistan.
The module is designed to facilitate real investors, from all corners of the world, in getting admission into SEZs while ensuring complete transparency.
Chairman BOI, Atif R. Bokhari stated that initiation of the first private SEZ in Pakistan was a testament to the fact that Government is fully committed to facilitating private investors for speedy industrialization in the country.
Secretary BOI, Fareena Mazhar said that “launching of SEZ MIS Module is a leap into the digital future of SEZ-led Industrialization.”
She further stated that BOI is undertaking all-out efforts to facilitate private investors to invest in Pakistan.
Both local and foreign investors interested in Pakistan’s SEZs can now simply register online and submit their applications that will automatically be shared with concerned authorities.