BEIJING, March 14 :MG JW Automobile Pakistan Pvt. Ltd has been granted admission to JW Special Economic Zone to establish electric car manufacturing plant in Raiwind, Punjab .
During a meeting JW-SEZ China-Pakistan SEZ Raiwind on March 12, Board of Investment facilitated the entry of China’s largest automobile manufacturer to bring electric vehicles in Pakistan, according to China Economic Net (CEN).
The MG JW will bring Rs. 1.3 billion investments including FDI of Rs. 663 million and local investment of Rs. 637 million.
MG JW Automobile (Pvt) Ltd (MG Pakistan) is a joint venture between JW SEZ (Pvt) Ltd, and SMIL, which is a subsidiary of SAIC Motor Corporation Limited.
The BOI Investment, Islamabad, 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, to get admission to SEZs while ensuring complete transparency.
Chairman of BOI, Atif R. Bokhari said that the government was fully committed to facilitating private investors for speedy industrialization in the country.
On this occasion, Secretary of BOI Fareena Mazhar said that the launch of SEZ MIS Module is a leap into the digital future of SEZ-led Industrialization and added BOI is undertaking all-out efforts to facilitate private investors to invest in Pakistan.
SAIC is a Chinese state-owned automotive design and manufacturing company headquartered in Shanghai, with multinational operations. It is the largest auto manufacturer in China and the seventh largest in the world.
In 2006, SAIC purchased the prestigious British brand Morris Garages (MG) and it is now marketing automobiles under that brand all over the world.