The Board of Investment (BOI) has decided to facilitate the entry of China’s largest automobile manufacturer in Pakistan and the first private special economic zone (SEZ) in Raiwind, Punjab.
With an estimated foreign direct investment (FDI) of Rs663 million and local investment worth Rs637 million, MG JW Automobile will establish an electric car manufacturing plant.
MG JW Automobile (MG Pakistan) is a joint venture between JW-SEZ (Private) Limited and SMIL, which is a subsidiary of SAIC Motor Corporation Limited. SAIC is a Chinese state-owned automotive design and manufacturing company headquartered in Shanghai with multinational operations.
It is the largest auto manufacturer in China and the seventh-largest in the world. In 2006, SAIC purchased the prestigious British brand Morris Garages (MG) and it is now marketing automobiles under that brand all over the world.
The BOI received the zone entry application of MG JW Automobile Pakistan through its recently launched ‘SEZ MIS Module’, which acts as a one-window for SEZs in Pakistan. The module is designed to facilitate real investors, from all corners of the world, in getting admission into SEZs while ensuring complete transparency.