This investment has been made in less than two years since its launch and China Mobile is expected to invest more in Pakistan in the years to come as the company has chalked out more future investment plans.
Islamabad (PR) : China Mobile Communications Corporation (CMCC), the world’s largest mobile telephony operator and the parent company of ZONG will invest US $300 million in Pakistan in 2010 which is the largest investment by any telecom operator in the current year.
This was revealed by Mr. Wang Jianzhou, Chairman of China Mobile Communications Corporation who is visiting Pakistan with CMCC’s delegation. The delegation has met several government dignitaries.
ZONG has so far invested US $1.66 billion in Pakistan and has generated more than 1700 direct and over 40,000 indirect jobs in the country.
China Mobile, which has made the largest investment among all Chinese investments in Pakistan, also has the distinction of being the only offshore company operating in Pakistan which has invested more than US $ 721 million in Foreign Direct Investment so far in the current year.
ZONG now stands third in terms of number of base stations and the Company has established more than 5000 cell sites in Pakistan showing rapid growth.
ZONG is China Mobile’s first venture outside of China and has attracted attention not only in the global cellular arena but also with the international finance experts and investment houses. China Mobile has made the largest investment among all the Chinese investments in Pakistan and is considered an emissary of friendship between Pakistan and China.
The Company continues to invest heavily in the construction of GSM networks, support systems and transmission facilities, and for the development of new technologies and new businesses. China Mobile pursues continuous innovation in the provision of services, business, technology and management and has sustained a leadership position in the telecom industry.
About China Mobile
Officially established on April 20th, 2000, China Mobile Communications Corporation (“China Mobile” for short) has a registered capital of 51.8 billion RMB Yuan and assets of over 400 billion RMB Yuan. China Mobile Limited has set wholly-owned subsidiaries in 31 provinces (autonomous regions and municipalities directly under the central government) in China and went public in Hong Kong and New York Stock Exchanges. Currently, in terms of its market value, subscriber based and network coverage China Mobile Limited is the largest among all the overseas listed companies.