Malaysian automaker Proton has announced to establish a car factory in Pakistan, Malaysian High Commissioner Ikram Mohammad Ibrahim said on Thursday. This would be the company’s first assembly plant set up in any South Asian country.
The announcement will be made formally by Malaysian Prime Minister Mahathir Mohammad who will begin his three-day official visit to Pakistan today. The Prime Minister of Pakistan Imran Khan and his Malaysian counterpart will witness the groundbreaking ceremony of Proton’s assembly plant in Karachi that will take place on Friday.
The construction of this plant is considered a key element of bilateral trade and investment between the two countries, since Pakistan is already Malaysia’s third largest trade partner in South Asia.
As far as the investment is concerned, Malaysia is Pakistan’s third largest foreign investor behind China and United Kingdom for the fiscal year 2017/18 according to the statistics provided by the State Bank of Pakistan.
The agreement between Proton and its partner group in Pakistan, Al-Haj automotive was signed last year. Proton vehicles including the Exora MPV and the Saga sedan are already undergoing vigorous in Pakistan.