After a mobile manufacturing unit, South Korean tech giant Samsung Electronics has decided to set up a television (TV) making plant in Pakistan.
The plant will be set up in collaboration with R&R Industries in Karachi.
Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood shared the information on his Twitter.
This is a vindication of MOC’s “Make-in-Pakistan” policy for industrialisation via rationalisation of input costs and other incentives.@Samsung @SamsungPakistan @mincompk @aliya_hamza #Pakistan #PakistanMovingForward #ManufacturingIndustry
— Abdul Razak Dawood (@razak_dawood) September 22, 2021
The TV plant by Samsung Electronics is expected to start operations by the end of 2021 and will produce 50,000 units annually.
This will be the tech giant’s second joint venture in Pakistan after it announced to set up a mobile manufacturing plant with Lucky Motor Corporation in July.
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The people have welcomed the South Korean company as the local manufacturing of Samsung products will cut retail prices.
Besides this, the new plant will also generate employment opportunities in Pakistan and encourage tech giant’s competitors to bring investment too.