Vivo has decided to establish a manufacturing facility in Pakistan. The news broke by Minister for Industries and Production, Hammad Azhar, on his Twitter handle. He mentioned in the tweet that Vivo is setting up a manufacturing facility in Pakistan officially. Vivo has purchased the land for this purpose and signed the agreements.
Last month, Vivo entered an agreement with the Govt of Pakistan. According to the report, Zhang Bin, the vice president of the company has already bought land for the manufacturing plant in the M-3 Industrial Estate in Faisalabad. Vivo is going to invest 10 million USD into the project.
Vivo Decides to Establish a Manufacturing Facility in Pakistan
Intl Smart Phone Brand VIVO has decided to establish a smart phone manufacturing facility in Pak. Land purchased.
Deployment of DIRBS eliminated smuggled phones. It was followed up by Mobile Manufacturing Policy. Revenues already doubled & now local manufacturing taking off. pic.twitter.com/VEL7gYgI2T
— Hammad Azhar (@Hammad_Azhar) December 2, 2020
Well, it is a great achievement for Pakistan. This new development will definitely boost the economy and create employment opportunities. Moreover, the company will offer its products at even better price points.
Presently in Pakistan, 17 mobile manufacturers are manufacturing mobile phones and now Samsung is also planning to establish an assembly plant. Other than that, the Chinese brand TCL and the French Alcatel have also shown their interest to invest in Pakistan.
Here, it is worth mentioning that DIRBS played a major role in encouraging international mobile manufactures to invest in Pakistan. It curbs with mobile smuggling issue and kicked out the mafia. Pakistan generated Rs. 54 billion from mobile phone imports. It encourages the local mobile industry and attracts mobile manufacturers around the globe to invest in Pak-land.
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