Chinese Automaker to Establish Electric Vehicle Plant in Pakistan
The Board of Investment (BOI) has decided to simplify the process for the biggest automaker in China to establish operations in Pakistan and establish the nation’s first private special economic zone (SEZ) in Raiwind, Punjab.
With an estimated foreign direct investment (FDI) of Rs. 663 million and a local investment of Rs. 637 million, MG JW Automobile will construct an electric car manufacturing.
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MG JW Automobile is a joint venture between SAIC Motor Corporation Limited’s subsidiary SMIL and JW-SEZ (Private) Limited (MG Pakistan). Shanghai-based SAIC is a multinational, state-owned automotive design and manufacturing corporation in China.
Morris Garages (MG), a well-known British brand, was acquired by SAIC in 2006, and cars are now sold under that name all over the world.
Through its recently introduced “SEZ MIS Module,” which serves as a one-stop shop for SEZs in Pakistan, the BOI received the zone entry application from MG JW Automobile Pakistan.
The module’s goal is to make it simpler for legitimate investors from around the globe to access SEZs while maintaining complete transparency.
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