Pakistani Prime Minister Imran Khan visits China on his second official tour. While being there, PM Imran Khan paid a visit to the headquarters of Foton International Co. Ltd. in Beijing. PM Imran signed a Memorandum of Understanding as Joint Venture with the local corporation, Master Motors (Pvt.) Ltd, who previously was selling and branding the Foton Pakistan vehicles under a technical licensing agreement since 2003.
PM Imran Khan paid a visit to China under the initiative of Belt & Road, visited the headquarters of Foton, who partnershipped with Master Motors in Pakistan and sold more than 17,000 vehicles.
This Joint venture is looking forward to inject investment of multi-million dollars, with Foton setting up a state of the art manufacturing and production facility at the National Industrial Park near Port Qasim, Karachi.
Through the joint venture, Foton is planning to launch its complete range of vehicles, the TOANO, TUNLAND, VIEWCS2, SAUVANA, AUMARK S, AUMARK C, AUMARK EST, AUMAN EST and AUMAN DUMPER.
The agreement was signed between the Vice President of Foton Group and the President of Foton International Co. Ltd. Mr. Ma Rentao, the Prime Minister’s Advisor on Commerce, textile and Industry Abdul Razak Dawood, and the Managing Director of Master Motor Corporation, Mr. Nadeem Malik.
After signing the agreements between the featuring parties, Mr. Mao Rentao said that “The strategic alliance will take both the stakeholders to another phase of successful long term relationship by bringing the latest technologies under the Foton umbrella to Pakistan.”
Mr. Nadeem Malik stated that this collaboration with the Foton International can bring potential of offering the latest technology to the customers with the best of its value. This joint venture can significantly benefit in the terms of potential investment and can create a total of 8000 direct and indirect jobs, causing an escalation of the people’s standards living in the country.