BOI promotes China’s largest automaker’s best interests. The company in question intends to build an electric car assembly factory in Punjab province and establish the first private special economic zone (SEZ) in the city of Raiwind, which is located in the Punjab province. The company in question intends to build an electric automotive manufacturing unit in the Punjab province.
The Board of Investment approved MG JW Automobile Pakistan Private Limited’s application to operate as a “zone business” inside the JW Special Economic Zone (SEZ) in Raiwind on Saturday (BOI).
It is expected that MG JW Automobile would develop an electric car production unit with a foreign direct investment (FDI) of 663 million rupees and a local investment of 637 million rupees.
MG JW Automobile is a partnership between two companies: JW-SEZ (Private) Limited and SMIL, which SAIC Motor Corporation Limited owns. These two firms have joined forces to establish MG JW Automobile (MG Pakistan). The Shanghai Automobile Industry Corporation (SAIC) is a state-owned Chinese automotive design and production firm headquartered in Shanghai. SAIC is not the only organisation with operations in other countries.
It is the biggest automobile producer in China and the world’s sixth largest car manufacturer. SAIC acquired the famed British car manufacturer Morris Garages (MG) in 2006, and the company currently sells vehicles under that name in countries all over the globe. SAIC’s worldwide growth began with the purchase of MG.
The application for MG JW Automobile Pakistan to join a Special Economic Zone in Pakistan was submitted to the Board of Investment (BOI) via the use of Pakistan’s newly developed “SEZ MIS Module,” which serves as a single point of contact for all SEZs in the country. The module was designed to make it easier for legitimate investors from around the globe to access special economic zones (SEZs) while adhering to the highest ethical standards imaginable.
According to BOI Chairman Atif R. Bokhari, the construction of the first private SEZ in Pakistan demonstrates that the government is wholly dedicated to supporting private investors to accelerate industrialisation in the nation. Bokhari made this comment in answer to a query on whether the government is dedicated to helping private investment. Bokhari made this remark in response to a question on the significance of Pakistan’s first private SEZ.
Furthermore, Fareena Mazhar, Secretary of the Board of Investment (BOI), said, “The introduction of the SEZ-MIS Module is a leap into the digital future of SEZ-led industrialization.”
She said that the BOI is doing all possible to make things easier for private investors.
The decision was made by the Board of Investment (BOI) to make it easier for the most prominent vehicle manufacturer in China to enter Pakistan and establish the first private special economic zone (SEZ) in Raiwind, located in the province of Punjab. The Board of Investment (BOI) on Saturday approved MG JW Automobile Pakistan Private Limited’s application to operate inside the JW Special Economic Zone (SEZ) in Raiwind as a “zone business.”.
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