Aurangzeb urges Transsion to expand local manufacturing

Finance Minister Muhammad Aurangzeb met Transsion Holdings founder and chairman George Zhu in Islamabad on Friday to discuss investment and local manufacturing, the state broadcaster Radio Pakistan reported.

Aurangzeb welcomed the company's continued investment and its interest in expanding operations in Pakistan.

The company briefed the minister on its activities in smartphones, electric bikes and energy storage, along with its plans for future investment and business growth.

The talks focused on strengthening local manufacturing, developing supporting industries and building local supply chains.

Transsion Holdings also said it wants to move beyond assembly work toward greater value addition and component manufacturing, which could open new opportunities for local businesses.

Aurangzeb said sustained macroeconomic stability gives a strong base for investor confidence and long-term business planning.

He reaffirmed the government's commitment to the reform process and stressed export-oriented growth, value addition and integration into global supply chains.

The company described Pakistan as a strategic market because of its sizeable consumer base, geographic location and business environment, and the two sides discussed positioning the country as a manufacturing and export hub.

Aurangzeb encouraged Transsion Holdings to keep engaging with relevant government institutions to explore further investment opportunities.

Both sides said they were interested in strengthening cooperation and enhancing Pakistan's potential as an export base.

Transsion is a China-based company whose brands include Tecno, Infinix and itel, and its phones are sold in several markets, including Pakistan.

Pakistan has been pursuing economic reforms under its loan agreement with the International Monetary Fund, and the government has made exports and local manufacturing central to its economic agenda.