Ericsson brings $31 million investment to Pakistan: IT Minister

Concerted efforts to attract foreign investment to Pakistan have clearly been bearing fruit, as exemplified by the recent instance of Ericsson – the world’s largest telecommunications company – bringing a total of $31 million worth of investment into the Pakistani space. 

This was announced by Federal Minister for IT and Telecom Syed Amin-ul-Haq, who in a statement released on Sunday said that Ericsson would spend the funds on establishing an offshore operations center, technology training, and 5G R&D in Pakistan. 

During a meeting the other day, Amin Ul Haque and Chairperson of Ericsson Pakistan at Ericsson Middle East and Africa Ekow Nelson discussed digitalization, skill development, and training for engineers in line with the vision of Digital Pakistan. 

During the meeting, Mr. Nelson re-affirmed his company’s commitment towards bringing the best technology to Pakistan thereby helping advance the country’s digital vision. 

“Ericsson is committed to expansion and diversification to bring investment and the best technology to Pakistan in line with the vision of Digital Pakistan,” he said. “The successful meeting with the Ministry is promising and we are looking forward to the future of technological advancement in the country.” 

The minister was of the view that investment by Ericsson would create vast employment opportunities and facilitate the launching of 5G service in the country. Amin said that direct foreign investment was an expression of confidence of international organizations in Pakistan. 

Assuring all kinds of support and facilities to foreign investors, the minister said IT and telecommunications were the sectors in which there are vast opportunities for foreign investment.