Pakistan signed a partnership agreement between two Chinese companies for smartphone manufacturing plant in Faisalabad.
Initially, Chinese companies will invest 10 million in the project. Provincial Minister Aslam Iqbal said that mobile phones would be manufactured locally from the manufacturing plant.
He welcomed the smartphone manufacturing plant project in collaboration with Chinese companies. He said that due to investor friendly policies domestic and foreign investors are turning to Punjab.
The Engineering Development Board (EDB) approved the mobile device manufacturing policy in February 2020. The policy will promote local investment and foreign direct investment.
Local mobile manufacturing will create about 200,000 jobs in the country and the country will be able to become part of the global supply chain. The brand of ‘Made in Pakistan’ will also be promoted in the global markets.
An estimated 34 million mobile phones are sold annually in Pakistan. With the development of mobile phones locally, the availability of low cost smartphones in Pakistan is possible.