Business

Huawei to invest $170mn in Pakistan & establish regional HQ in Islamabad

By WebDesk, BOL News

18th July, 2019

Huawei to invest $170mn in Pakistan & establish regional HQ in Islamabad

Thursday 18th July, 2019

Chinese multinational technology company ‘Huawei Group’ unveiled $170 million investment plan to set up its regional headquarters and upgrade technical support center in Pakistan.

Huawei Group, Vice President Mark Xueman said Pakistan is a strategic market for the company. “The company will invest around $100 million in the country this year,” Xueman said during a meeting with Minister for Planning, Development and Reform Khusro Bakhtiyar.

“Huawei will also set up a regional headquarters in Islamabad at a cost of $55 million that will create job opportunities for young engineers in Pakistan.”

Huawei’s official further informed the minister that the company would also invest $15 million more in its technical support center and it will also hire more workforce for the center, taking the number of its staff to 800 from 600 this year.

“Huawei is eager to initiate more projects in Pakistan on grant funding from Chinese government,” Xueman said.

Huawei Group, Vice President was leading a delegation of businessmen. Minister Bakhtiyar assured the delegation of all cooperation in future joint ventures.

Khusro Bakhtiyar, while appreciating the company’s continued engagement in the country, said the leading technological company could support the development and upgrading of information and technology sector in Pakistan.

Pakistan is fast-growing telecom market with subscribers of mobile phones having crossed the 160 million mark compared with the country’s population of 210 million. Of total subscribers, 68 million use 3G/4G. There are 70 million Broadband subscribers.


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