Prime Minister Imran Khan visited headquarters of Chinese auto-giant Foton Motors in Beijing.
Chairman JW SEZ Group, Foton Automobile’s partner in Pakistan, Shah Faisal Afridi, and Chief Executive Officer (CEO) Haier & Ruba Pakistan, Javed Afridi, also accompanied the PM during the visit.
The PM was informed about the use of modern technology and manufacturing of automobiles by the Chinese company.
Chairman Foton Gong Yueqiong told the prime minister that Foton is investing in Pakistan. It has established an assembly plant in the country as a joint venture.
On the occasion, CEO JW-SEZ said that soon, Foton Motors’ electric vehicles and the hydrogen-powered buses will be seen plying on the roads of Pakistan.
Beiqi Foton Motor Co. Ltd. (Foton) is a trans-regional, trans-ownership, and trans-industry state holding listed company. Founded on August 28, 1996, it is headquartered in Changping District of Beijing and has almost 30 billion Yuan worth of existing assets.
Master Motors & Foton
Foton International Trade Co Ltd, Beijing has signed an MOU to inject investment in the form of a Joint Venture (JV) with their local partner Master Motor Corporation (Pvt.) Limited (MMCL) which has been manufacturing, selling and providing after sales of Foton Brand of vehicles since 2003 under technical licensing agreement.
The joint venture (JV) with Master Motor Corporation (Pvt.) Limited will result in the injection of multimillion dollars, with a transfer or technology to set up a state of the art production facility in the National Industrial Park near Port Qasim in Karachi.
The JV plans to introduce the complete range of FOTON vehicles including Passenger Vehicles (Tunland, Toana, View CS2, Sauvana), Light and Heavy Commercial vehicles (AUMARK S, AUMARK C, AUMARK TX, AUMAN EST and AUMAN DUMPER) and Foton Buses.
The agreement was signed in the presence of Advisor to PM on commerce, textile & Industry Abdul Razak Dawood. The MOU was signed by Ma Rentao (Vice President of Foton Group & President of Foton International) and Nadeem Malik (Managing Director of Master Motor Corp).
“Together with FOTON, we can tap the market potential while leading on the technology front and offering latest technologies with all safety features to deliver unprecedented value to the customers. This joint venture would bring significant foreign direct investment to Pakistan, and will create more than 8,000 direct and indirect jobs, which would eventually improve the living standards of people in the country,” said Mr. Malik.
Foton Already Worked in Pakistan :
Foton Ki Branch Bhi hai Siemens Chowrangi SITE Pe
The isolation of businessmen of Punjab is now at the extreme level under the PM Imran Khan.
Only Pushtoon businessmen ( Shah Faisal Afridi, Javed Afridi and 12 others) and businessmen of Karachi were allowed to accompany Imran Khan for a trip. They were informed beforehand about all developments as well.
None of the MOUs signed any development and factory establishment in the biggest province.
People of Punjab especially the business community must remember that. You guys have selected a Biased and racist PM that is isolating the biggest province and promoting the people of only one ethnicity and certain regions only.
No, stop this false accusations.
@Rafi Let us talk with logic and facts.
I have close contacts with Sialkot and Faisalabad chamber of commerce. They represent the industry of 10 billion US Dollars. They are complaining of this isolation and they have a valid point.
You can prove my accusation wrong by giving me any example of any top businessmen of Punjab ( excluding Ethnic Pushtoons) that were invited for this trip. Can you give me any name of any project for the the biggest province that was signed during this trip?.
Just give me the example and I will take down my comment.
You do not have to comment this. People of Punjab already seeing a dummy as a CM.
Oh the Irony! see now. that’s how it feels to be ignored. Like sindh’ being feelin’ for better part of last 3 decades.
Please stop such baseless accusations.
I know of Fatima Group, which was one of the conglomerates that signed an MoU during this visit and most of their agri related projects are based in Punjab.
Secondly, the FTA signed between the government was entirely focused on products made in Faisalabad and Sialkot.
And I know of at least 5 automakers, including Chinese companies, that have JVs to set up auto assembly/manufacture plants in Punjab.
At the end of the day, it is Pakistan that benefits from this and Punjab is a part of Pakistan.
@Aadil Shadman I am not making baseless accusation. I am providing the reason. Stop this drama that in the end it is Pakistan’s benefit, so that current practices and biased approach will go on.
Every businessman and region irrespective of their ethnic origin must be given equal opportunity.
Our PM is a biased person towards ethnicity and one region and that is fact.
Fatima Group is from Karachi with their interests in Punjab, but they are not from Punjab. JV, Master and Haeir is a Pushtoon group with their set up now in Punjab too ( as obviously consumers are in Punjab).
But the fact will not change that people with certain ethnicity and the region are being promoted and they are appreciated to take over and set up businesses in Punjab as well. Whereas one ethnicity is looked down around the circles of PM Khan.