Samsung To Invest $20b In Pakistan Over 10 Years


#1

ISLAMABAD: Samsung, a South Korean electronics company, has announced a long-term plan to invest 23.3 trillion Korean won ($20.57 billion) in new businesses in environmental and healthcare sectors in Pakistan by 2020.

Five major new areas of investment outlined include solar cells, rechargeable cells for hybrid electric vehicles, Light Emitting Diode (LED) technologies, biopharmaceuticals and medical devices. Samsung on Friday announced that the five new growth businesses were expected to create around 45,000 jobs and generate 50 trillion won in annual revenue for affiliated companies by the year 2020.

The investment plan was agreed during a Samsung Council of Presidents' meeting on May 10 attended by Samsung Electronics Chairman Kun-Hee Lee and heads of related affiliates and business units. The executives were given presentations on market and technology trends in the new business areas and discussed the investment plans. Key investments outlined during the meeting included six trillion won in development and manufacture of solar cells, initially focusing on crystalline silicon technology and later on thin film.

This venture is expected to generate 10 trillion won in annual revenue and employ 10,000 workers by 2020. Additionally, 5.4 trillion won will be invested in rechargeable cells for hybrid electric vehicles, which is expected to generate 10.2 trillion won in annual revenue and employ 7,600 by 2020. Moreover, an investment of 8.6 trillion won will be made in LED technology for applications including backlit displays, lighting and car electronics.

This LED venture is expected to create 17.8 trillion won in annual revenue and employ 17,000 staff by 2020. This collaboration between the Samsung Medical Centre and related business units is expected to generate 1.8 trillion won in annual revenue and employ 710 people by 2020. This endeavour is expected to create revenue of 10 trillion won annually and employ 9,500 people by 2020.

Published in the Express Tribune, May 15th, 2010.

Link: http://tribune.com.pk/story/13388/samsung-to-invest-20b-in-Pakistan-over-10-years/


#2

cool , good to know that :)


#3

Samsung to invest 23 Trillion Korean Won in Eco, Healthcare

LAHORE, (SANA): Samsung on Friday announced a long-term plan to invest 23.3 trillion Korean Won (Korean Currency) through 2020 in new businesses in the environmental and healthcare industries.

While five major new areas of investment outlined include solar cells, rechargeable cells for hybrid electric vehicles, Light Emitting Diode (LED) technologies, biopharmaceuticals and medical devices.

Samsung announced that the five new growth businesses are expected to create around 45,000 jobs and generate 50 trillion Won in annual revenue for affiliate companies by 2020.

The investment plan was agreed on during a Samsung Council of Presidents' meeting on May 10 attended by Samsung Electronics Chairman Kun-Hee Lee and heads of related affiliates and business units.

Attending executives received presentations on market and technology trends in the new business areas and discussed the investment plans.

The General Manager of Samsung Pakistan Mr. Steve Han said; "Governments around the world are now investing in green industries to address the issues of depleting energy resources and the protection of our planet's environment, which present pressing challenges to the global community. Samsung believes that investing in eco-friendly and health-care technologies is a core responsibility of a truly global corporation.

Key investments outlined during the meeting included; 6 trillion Korean Won in development and manufacture of solar cells, initial focusing on crystalline silicon technology and later on thin film.

This venture is expected to generate 10 trillion Won in annual revenue and employ 10,000 workers by 2020. Additionally 5.4 trillion won will be invested in rechargeable cells for hybrid electric vehicles, which is expected to generate 10.2 trillion won in annual revenue and employ 7,600 by 2020.

Moreover, an investment of 8.6 trillion Won will be made in LED technology for applications including backlit displays, lighting and car electronics.

This LED venture is expected to create 17.8 trillion Won in annual revenues and employ 17,000 staff by 2020.

The Samsung leadership also committed 2.1 trillion Won for Bio-pharmaceuticals to explore opportunities in Bio-similars market with expiration of long-held industry patents.

This Collaboration between Samsung Medical Center and related business units is expected to generate 1.8 trillion won in annual revenue and employ 710 people by 2020.

A further investment of 1.2 trillion Won will be made for development and manufacture of electronic healthcare equipment with an initial focus on external diagnostic tools such as blood testing devices.

This endeavor is expected to create revenue of 10 trillion Won annually and employ 9,500 people by 2020.

Link: http://www.sananews.net/english/2010/05/15/samsung-to-invest-23-trillion-korean-won-in-eco-healthcare/


#4

Pakistan has to be the most suitable place for people like Samsung's Chairman.

Good for us, everyone's going crazy outsourcing to India and getting stuff manufactured in China. I wonder what they saw in Pakistan, maybe they just want to keep away from China after all the bad press Foxconn's been getting for the last few weeks.


#5

While foreign investment is always excellent news, I would much rather see Pakistani's doing more to invest in local talent and startup's. To my knowledge, Pakistan doesn't have technology parks and organizations which would help say new graduates create startup's.

One organization supported by the University of Waterloo is the Accelerator Center: http://www.acceleratorcentre.com/

This organization helps students start companies, providing venture capital and access to resources which would help them navigate the maze of legal issues, marketing, patenting etc. They also have a huge building (Accelerator Building) which provides free office space to these startups. Now THAT is the kind of thing Pakistan needs instead of sitting in a corner, hoping and praying that some multi-national giant will setup shop.

If there are people on this forum with the means (financial and otherwise) to do something like that, then please do Pakistan and Pakistani's a favor and direct your efforts into such a venture.


#6

Cool Awesome Great ......... Yawn !!

Let them come here first, then celebrate it!


#7

[quote=", post:, topic:"]

While foreign investment is always excellent news, I would much rather see Pakistani’s doing more to invest in local talent and startup’s. To my knowledge, Pakistan doesn’t have technology parks and organizations which would help say new graduates create startup’s.

One organization supported by the University of Waterloo is the Accelerator Center: http://www.acceleratorcentre.com/

This organization helps students start companies, providing venture capital and access to resources which would help them navigate the maze of legal issues, marketing, patenting etc. They also have a huge building (Accelerator Building) which provides free office space to these startups. Now THAT is the kind of thing Pakistan needs instead of sitting in a corner, hoping and praying that some multi-national giant will setup shop.

If there are people on this forum with the means (financial and otherwise) to do something like that, then please do Pakistan and Pakistani’s a favor and direct your efforts into such a venture.

[/quote]

Venture capitalists and entrepreneurial forums are there at some universities. NUST had TIC (though I severely doubt they do anything constructive except being babbu). HEC once started some scheme for investments in entrepreneurial efforts but then “democrazy” happened.


#8

Like always best stories are publish in Express Tribune


#9

[quote=", post:, topic:"]

While foreign investment is always excellent news, I would much rather see Pakistani’s doing more to invest in local talent and startup’s. To my knowledge, Pakistan doesn’t have technology parks and organizations which would help say new graduates create startup’s.
[/quote]

In Lahore a similar project on Ferozpur road “Software technology park” is under construction… in fact near completion, its a 17 story building and the project was initiated by Pervaiz Ellahi, in Musharaf’s reign…


#10

This is great news but only time will tell if the investment will actually be realised. We can depend on our bureaucrats and politicians to put up road blocks until they get their share of the money. But if samsung does infact go through with their plan then it is really good news.

I recently got a pair of new corsair memory modules after I made a warranty claim. On the back is the text "ASSY in Sri lanka". I think that means that the modules were assembled in Sri Lanka which just shows how quickly that country is progressing and how far Pakistan is falling behind.


#11

[quote=", post:, topic:"]

In Lahore a similar project on Ferpzpur road Software technology park is under construction… in fact near completion, its a 17story building and the project was initiated by Pervaiz Ellahi, in Musharaf’s reign…
[/quote]

Thats good news. But I assume it would be more geared towards big companies with deep pockets to pay for that kind of office space. More needs to be done to support ventures at the university level, since that is where the real innovation takes place. I wish Pakistani’s would get their minds out of the ‘begging bowl’ rut, always looking towards others to help them. There is plenty of talent and money within Pakistan itself, if people would just learn to harness it properly. At the end of the day, you can only really be helped if you help yourself!


#12

Yes! it's been more than about 7 year Pervaiz Ellahi announced that the development has been started. Excluding these 3 years, they had already spared the 4 years for the development of this building to proceed until they left the Govt.

@Mumtaz; believe me I didn't notice that building stood besides the road in any shape ever I passed through there. May be I've overlooked all the time.

But I've heard by their words about other projects as well they shouted to start in their time of governance (top rated projects I believe) and they also collected finances for the developments but the developments have got laziness after wards and even stopped completely, right in their own governance period..

- There was also a development to be started named "IT Tower" right near the Hafeez Center at Hali Road, but as well stopped even during the basement construction. I noticed the development of that "IT Tower" restarted by the end of 2008 and now it has been stood up without the finishing. I am sure it will be completed by the end of 2010 if no other difficulties interrupted this development. If that is so then I guess Mumtaz is right about the STP (Software Technology Park) that it might also be near completion.

- One University had to be developed in Sheikhupura. President Pervaiz Musharraf announced and allotted the finances for the development and there is no University after that... I believe if they would have atleast started the development, it would have also been restarted in the current governance. as many other developments in Punjab including roads which were just showing the laziness and unwillingness of the last government had just been restarted and even completed in flash time of months or a year...

PS. It depends on the Government how they will make it happen, or they will not... I wish that they should be loyal to their country...

About the in-process developments. I would say it would be like eye catching views in Lahore if they got their targeted/planned shapes... and ofcourse if completed they will get also employments in town.

I wish best of luck for the future of ours...


#13

[quote=", post:, topic:"]

@Mumtaz; believe me I didn’t notice that building stood besides the road in any shape ever I passed through there. May be I’ve overlooked all the time.

[/quote]

well about two years ago i passed from there and it was standing high, seemed to be 10 stories, it is situated on Ferozpur road after crossing Chungi amur sidhu, and a fly over, it is very away from main city, just besides the ICI Paints factory,

Here it is :)


#14

[quote=", post:, topic:"]

In Lahore a similar project on Ferozpur road “Software technology park” is under construction… in fact near completion, its a 17 story building and the project was initiated by Pervaiz Ellahi, in Musharaf’s reign…

[/quote]

i was passing by this fantastic piece of architecture 1-2 weeks back and took this snap :)

it-park-lahore.jpg


#15

^ :o I seriously didn't see that giant nearly in past.... oh my eyes :(

BTW I already said that doubtfully.

[quote=", post:, topic:"]
I noticed the development of that "IT Tower" restarted by the end of 2008 and now it has been stood up without the finishing. I am sure it will be completed by the end of 2010 if no other difficulties interrupted this development. If that is so then I guess Mumtaz is right about the STP (Software Technology Park) that it might also be near completion.
[/quote]

So don't blame me for that.. :P

[quote=", post:, topic:"]
Here it is :)
[/quote]

I know the location where it has to be.. but I really didn't see that.. believe me... :/

I also accused my eyes for that, you see!!! :P


#16

^lol ;)

@ Xainnadeem: i know you must have been searching for your "kabuli biryani" there, i em pretty sure :P


#17

good for pakistan's economy................


#18

[quote=", post:, topic:"]

@ Xainnadeem: i know you must have been searching for your “kabuli biryani” there, i em pretty sure :P
[/quote]

lol ;)