Huawei to invest $100 mln in Pakistan this year: official

ISLAMABAD: Chinese technology giant Huawei plans to invest $100 million in Pakistan this year, a company executive said.

Huawei Vice President of Huwaei Group, Mr. Mark Xueman met with Pakistani Federal Minister for Planning, Development & Reform Makhdum Khusro Bakhtyar in Islamabad on Wednesday.

“Pakistan is a strategic market for Huawei. The company will invest around $100 million in the country this year,” Mr Xeuman said.

The company 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.

He further informed that Huawei will also invest $15 million more in its Technical support Centre in Pakistan and it will also hire more work force for the same taking the number of its staff from 600 to 800 this year.

“Huawei is eager to initiate more projects in Pakistan on grant funding from Chinese government. The Minister assured of the ministry’s all possible cooperation in future joint ventures.”

Speaking on this occasion, the minister appreciated Huawei’s continued engagement in Pakistan, said that the leading technological company can support in developing and upgrading IT sector of Pakistan.

Makhdum Khusro noted that Huawei had 25% share in mobile industry of Pakistan and is also the top taxing paying Chinese company in the country.

The Minister opined that Huawei can support IT start-up projects in Pakistan to benefit the youth in this important sector.