Business
March 14, 2021
ISLAMABAD: MG JW Automobile Pakistan Pvt Ltd has been granted admission as zone enterprise to JW SEZ, Raiwind with an estimated foreign direct investment (FDI) of Rs663 million and local investment of Rs637 million during a Special Economic Zone committee meeting.
MG JW Automobile is a joint venture between JW SEZ (Pvt) Ltd, and SMIL which was a subsidiary of SAIC Motor Corporation Limited. The entry of the company into the first private sector JW-SEZ China-Pakistan SEZ was facilitated by the Board of Investment, a statement said.
The entry as Zone Enterprise would enable Chinaâs largest automobile manufacturer to bring electric vehicles in Pakistan.
BOI enables Chinese auto makers entry in first private SEZ
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BOI enables Chinese auto makers entry in first private SEZ
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
2021-01-16 12:36:01 GMT2021-01-16 20:36:01(Beijing Time) Xinhua English
by Li Hao, Jamil Bhatti
ISLAMABAD, Jan. 16 (Xinhua) As all-weather strategic cooperative partners, China and Pakistan have attached great importance to their industrial cooperation. Despite the COVID-19 pandemic, the smooth implementation of projects from the Rashakai special economic zone (SEZ) to MG automobile plant has deepened the industrial cooperation between the two countries.
Located in Pakistan s northwest Khyber Pakhtunkhwa (KP) province, the Rashakai SEZ is one of the nine SEZs that the Pakistani government is going to develop under the China-Pakistan Economic Corridor (CPEC), which has entered a new stage of high-quality development focusing on industrial, agricultural and socio-economic cooperation.