Huawei to invest $100 million in Pakistan in 2019 – Research Snipers

Huawei to invest $100 million in Pakistan in 2019

Huawei, one of the leading mobile companies in the world, is interested to invest $100 million in Pakistan in 2019.

The Vice President of Huawei Group Mark Xueman said that Huawei considers Pakistan a strategic market.

Xueman, after a meeting with the Minister for Planning, Development, and Reform Khusro Bakhtyar said, “The company will invest around $100 million in the country this year.”

At a cost of $55 million, Huawei wants to set up its regional headquarters in Islamabad. Once the office is up and running it will open job opportunities for local young engineers.

In the meeting the Secretary Planning Zafar Hasan, CPEC Project Director Hassan Daud and other senior ministry members were present.

Furthermore, Mark Xueman said that in its Technical Support Centre in Pakistan, Huawei will invest $15 million. This will take its workforce to 800 from 600 in 2019.

Huawei is interested to start more projects in Pakistan on grant funding from the Chinese government, as per Xueman.

Huawei’s continued work in Pakistan was appreciated by Makhdum Khusro Bakhtyar. He said that the company will support Pakistan in building and upgrading its information technology (IT) sector.

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In Pakistan’s mobile industry, Huawei has a 25% market share. Also, it is the top tax paying Chinese company in the country. Huawei’s effort with the Higher Education Commission for establishing smart schools was also appreciated by the minster.