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The Chairman and CEO of the world's largest cellular company, China Mobile, Wang Jianzhou on Saturday separately called upon President Musharraf and Prime Minister Gilani and apprised them of the company's ongoing and future planned investments in Pakistan.
Wang Jianzhou and his team are currently visiting Pakistan in connection with the launch of ZONG, the new international brand of China Mobile. The President and the Prime Minister were informed by Wang Jianzhou, that after acquiring Paktel last year for over $460 million, the name of the company was changed to CMPAK Limited and a further $400 million has been invested in the country for network improvement and expansion. Still another $800 million is expected to be invested during the current year.
Following the meetings Wang Jianzhou stated that both the President and the Prime Minister expressed happiness at the entry of China Mobile into Pakistan and assured the government's full co-operation to make the Chinese investment successful. He went on to say, "In spite of the fairly high cellular density in Pakistan, we are very optimistic about the market potential in Pakistan. We believe we have a huge advantage over all the other operators, as our experience is the greatest in dealing with the issues and challenges of emerging markets. The cellular industries of China and Pakistan have many similarities, especially as far as expansion into the rural areas is concerned."-PR

Copyright Business Recorder, 2008

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