China tie-up to advance EV charging network

ADM International to assist K-P in developing EV assembly and manufacturing infrastructure

PESHAWAR:

During the China Innovation Summit and Digital Economy Tour, the Khyber-Pakhtunkhwa Board of Investment and Trade (KP-BoIT) and China’s ADM International Trading Company inked a memorandum of understanding (MoU) to foster strategic collaboration.

The focus of the agreement is on jointly establishing Electric Vehicle (EV) charging, assembly, and manufacturing infrastructure in Khyber Pakhtunkhwa.

This initiative, part of the CAREC-led efforts for cooperation in e-commerce and electronics, aligns with the goals of the Automotive Policy 2021–26.

ADM aims to provide cutting-edge EV services by creating a nationwide charging network and establishing assembly and manufacturing facilities for EVs and related products in Pakistan.

The partnership, as described by KP-BoIT Director Iqbal Sarwar, not only supports the province’s sustainable development goals but also presents significant opportunities for EV investors, marking a substantial step towards reducing imports.

In October this year, K-P Caretaker Minister for Industries, Commerce, Technical Education, and Newly Merged Districts Affairs, Dr Aamir Abdullah, emphasized the significant population increase of 5.5 million people in the province after the merger of tribal areas.

Read K-P minister drives green initiatives

He underscored the vital role of private investment and business promotion in achieving sustainable development in the region. The minister noted that Khyber-Pakhtunkhwa offers abundant opportunities across various sectors, emphasizing the need to create a favorable environment and facilities for investors and entrepreneurs.

He highlighted the pivotal role of private investment and business growth in the province’s economic development, citing global examples where countries achieved progress by prioritizing the private sector. He expressed the government’s commitment to supporting investors and entrepreneurs and providing them with comprehensive assistance.

These remarks were made during his address as the chief guest at an event titled ‘Khyber Pakhtunkhwa SMEs and Investors Networking,’ held at a local hotel in Peshawar.

The event was organized by the KPBOIT, in collaboration with the United Nations Development Program (UNDP).

Attendees included officials from relevant government departments, investors, businessmen, representatives of UNDP, and other stakeholders.

Dr. Abdullah emphasized that fostering the private sector and encouraging investment are crucial for a country’s development. He highlighted the success stories of countries like China, which prioritized facilitating private businesses and investments to achieve progress and alleviate poverty.

 

Published in The Express Tribune, November 25^th, 2023.