FAISALABAD – The Chinese smartphone company Vivo will invest $10 million in Pakistan for building a production facility at the M3 Industrial Estate in the Faisalabad Industrial Estate Development and Management Company (FIEDMC), Federal Minister for Industries Hammad Azhar announced on Wednesday.
The facility will be set up as a result of the agreement signed between the Chinese company and the Punjab government last month.
“Deployment of DIRBS eliminated smuggled phones. It was followed up by Mobile Manufacturing Policy. Revenues already doubled and now local manufacturing taking off,” said Azhar in a tweet.
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
Last week, Punjab Minister for Industries Mian Aslam Iqbal chaired a ceremony to sign an agreement for setting up a smartphone manufacturing plant in M-3 Industrial Estate Faisalabad through bilateral collaboration.
Vivo Vice President Duam Tai Ping and Director Manufacturing Zhang Bin signed the agreement at the FIEDMC office while CEO Aamer Saleemi was also present.
