Business & Commerce

JW Forland Inaugurates $150 Million Project in Islamabad

jw-forland

The Chinese automaker JW Forland recently inaugurated its $150 million assembly plant in Islamabad.

Attending the launch ceremony, Prime minister Imran Khan welcomed the initiative and indicated growth of the job market in Pakistan. The premier touted the government’s efforts in bringing beck foreign investments, saying “We didn’t have enough dollars before but we are working on bringing more dollars into the economy”. “PTI government is facilitating the foreign investors by all means to bring investment in Pakistan,” he further added.

He further urged that “we need to ease the hurdles for the people who wish to invest” to encourage further growth in the economy and to create more jobs.

Finance Minister Asad Umar also welcomed the step with a morning tweet welcoming the $150 million investment and JW Forland’s effort in making Pakistan a regional power hub in the automobile industry. He also emphasized on the reversal of the de-industrialization of the country for prosperity, in his message on the social media platform.

This is the first time that vehicles will be produced in Pakistan for commercial use. Previously, Adam Group Company had designed, produced and assembled the first car in Pakistan back in 2005 but was later discontinued in 2006 due to a lack of funds.

jw forland

Recently, the Pakistani auto industry has been witnessing an increasing interest of foreign investors. A few weeks back it was also announced that Suzuki Motors was interested in investing $450 million in the expansion of car production locally. Additionally, German auto giant Volkswagen has also signed an agreement to set up assembly plants in Pakistan.

JW Forland Automotive also inaugurated its assembly plant nearly six months ago in Lahore. The company plans to create more job opportunities along with an environment friendly auto industry in Pakistan. Hopefully this will be create a positive sign for the automotive industry of Pakistan.