10 New Chinese Automakers to Enter Pakistan
Nearly 10 new Chinese automakers are willing to explore the Pakistani market, this was revealed by Moin ul Haque, Pakistan’s Ambassador to China, who was addressing the “Pakistan Automobile Industry Roundtable Seminar” held at the Pakistan Embassy in Beijing on Wednesday, 20th October 2021.
He said Pakistan is planning to enhance its annual automobile production from the existing 250,000 units to about 1 million units over the next 5 years. This is achievable since different automobile companies from across the globe, especially Chinese enterprises, were interested in investing in the auto industry of Pakistan. Moin said:
“Many Chinese companies are already operating in the automobile manufacturing sector in Pakistan while 10 new companies have showed interest in investing in the country. They are in the process of inking joint ventures with local partners in the private sector.”
He told seminar participants that the government was formulating a new automobile policy that would be announced soon, in which more incentives and concessions in taxes are likely to be offered. Moin added that automobile companies, including manufacturers of electric vehicles in China, would be invited to set up their plants in greenfield and brownfield categories.
Talking about Pakistan’s automobile sector, he termed it the fastest-growing sector owing to robust demand and a large population of 220 million people. He mentioned that in the past, Japanese manufacturers had set up their production units but in recent times Chinese automobile companies have also started tapping the opportunities available in Pakistan. Moin said China is now emerging as a leading automobile manufacturer in the world with high-quality products. Moin ul Haque was also presented a vehicle model by representatives of Chinese automobile companies during the meeting.