Currently Reading: VIVO Is Establishing A Manufacturing Plant In Pakistan
VIVO is one of the most popular Chinese mid-range smartphone manufacturer in the world. The company is marked with its ability to innovate in a swarm of monotonous design language for modern smartphones. It comes as a great news for Pakistan that VIVO has finally made an agreement with the Pakistani government to establish a new smartphone manufacturing plant based entirely in Pakistan.
An agreement has been reached between 2 Chinese companies at the FIEDMC office to establish a smartphone manufacturing plant in Faislabad, Pakistan.
As per details agreement was signed in presence of Provincial Minister for Industry
— Developing Pakistan (@DevelopmentPk) November 30, 2020
This development that VIVO is establishing a manufacturing plant in Pakistan has come as a direct result of PM Imran’s first ever smartphone manufacturing policy for the country which would enable Pakistan to accumulate tonnes of revenue through export and would create thousands of jobs for every sector.
Read about the policy: First Ever Mobile Phone Manufacturing Policy Approved In Pakistan
Investment In FIEDMC
The Vice President of Vivo, Mr. Duam Tai Ping, and Director of Manufacturing, Mr. Zhang Bin penned down the agreement with FIEDMC over the weekend which states that VIVO will be investing about $10 million in construction of the manufacturing facility in Faisalabad. This agreement was signed in the presence of the Minister for Industries, Mian Aslam Iqbal.
In his media briefing he said that the provincial government would be extending its support to the fullest potential in order to ensure the completion of the manufacturing plant for smartphones. Mian Aslam Iqbal is an avid believer of the fact that the establishment of manufacturing plant for a world renowned tech brand like VIVO will most definitely create multitude jobs and also boost Pakistan’s export revenue.
Benefits Of In-house Smartphone Manufacturing
Pakistan will be able to easily find a way for localization of all products. National customers will be subsidized and consequently be able to buy mobile phones much cheaper. Also, digitization and 5G technology will be brought to the country for the national users. Pakistan will also be able to generate its own revenue and profit by establishing a foreign market. Countries generate a major chunk of their finance from exports, and smartphones are something that have a never ending market.
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