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ISLAMABAD: With the grant of entry of China’s largest automobile manufacturer by the Board of Investment (BoI), the manufacturing of electric vehicles will start in the country’s first private Special Economic Zone (SEZ) in Raiwind.
During the SEZ Committee meeting on Friday, the BoI approved the Zone Enterprise in order to facilitate the JW-SEZ China-Pakistan SEZ in Raiwind to manufacture electric vehicles with an estimated foreign direct investment of Rs663 million and local investment of Rs637m by MG JW Automobile Pakistan Ltd.
The BoI had 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.
MG Pakistan is a joint venture between JW SEZ and SMIL which is a subsidiary of SAIC Motor Corporation Ltd.
SAIC is a Chinese state-owned automotive design and manufacturing company headquartered in Shanghai, with multinational operations. It is the seventh largest in the world.
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, according to BoI.