China has chosen to invest in Pakistan in the manufacturing of electric vehicles (EVs) and the agriculture sector in order to boost economic activity in the country. According to a senior official of the Board of Investment, investment in both areas will result in growth and new job possibilities in these industries. He stated that China’s Optima Integration Group has partnered with Pakistan’s Asia Pak Investments to spend $50 million in the first phase in Gwadar and Karachi’s agriculture, power, and logistics sectors.
According to him, the Board of Investment (BoI) recently facilitated the signing of a memorandum of understanding (MoU) between the two companies in this regard, which will result in the creation of over 100 jobs in Gwadar and Karachi, as well as the establishment of a high-tech processing facility and technology transfer.
According to the senior official, the two groups will establish an end-to-end seafood supply chain under the MoU, with the General Administration of Customs of the People’s Republic of China approving 79 species of fish for export from Pakistan to China.
In the long run, he said, the enterprise would expand from fish to beef and goat, starting with cold-chain beef exports and then ramping up.
In response to a question, he stated that the Gauss Auto Group, based in China, plans to build an electric vehicle (EV) plant in Pakistan’s Karachi Special Economic Zone (SEZs). According to the senior official, the company intends to form a joint venture (JV) with AKD Group Holdings to build the factory at Port Qasim, Karachi, on approximately 1000 acres of land. According to him, Gauss Auto is a company that focuses on vehicle invention and development as well as resource integration. According to him, Pakistan’s recently introduced Electric Vehicle Policy benefits both existing and new manufacturers.
The leadership of the BOI encouraged Gauss Car Group to engage in Pakistan’s auto sector and provided the company with the best possible support and assistance.