China Telecom to invest a further $800M in Pakistan

China Telecom is now the world’s largest telco. It’s yet another indication of how influence and power are continuing their eastward journey… as Bob Dylan once poignantly said, “The times they are a changin’”. In order to supplement its domestic growth, China Telecom is looking at international markets to expand into. Their 2007 entry into Pakistan has been one of the most significant moves they’ve made in this direction. Last year, they struck a deal to buy-out Paktel, which has since been rebranded Zong, and launched a significant campaign to enhance their share of the mobile telephone market.

The Business Recorder reports today that Mr. Wang Gian Zhuo, the President of China Mobile has announced that his company’s plans in Pakistan will be augmented by a further $800 Million investment to develop infrastructure and lay the ground work for more advanced service provision. And as a demonstration of their commitment to Pakistan, China Telecom has also announced that they will be launching several initatives for socio-economic uplift, including the distribution of free text books to deserving children in the country. Great idea and something that will go a long way in building goodwill for China Telecom and its products!

Here’s more from the BR:

China Mobile to invest further $800 million in Pakistan
BEIJING (June 20 2008): China Mobile, the world’s largest telecommunication organisation will make further investment amounting to $800 million in Pakistan. The President of China Mobile, Wang Gian Zhuo said during a meeting with Pakistan Foreign Secretary, Salman Bashir in Beijing on Thursday.

China Mobile has already made an investment of $800 million in Pakistan. Wang said that besides making further $800 million investment, he would also pursue many internationally acclaimed telecommunication organisations like Sony-Erricson to take part in the development of telecommunication sector in Pakistan.

Further, he said that Pakistan has great deal of opportunities for foreign investors as it offers equal level playing fields for both foreign and domestic investors. The President of China Mobile said that he had recently held very fruitful meeting with the Pakistani leadership and was impressed about the incentives Pakistan offers to the foreign investors, particularly for the Chinese. Zhuo informed the Foreign Secretary that China Mobile would also contribute in the socio-economic uplift of the people of Pakistan.

In this connection, he pointed out that his organisation would provide free textbooks to the young students so that they could carry out their studies in a smooth way. The Foreign Secretary thanked Zhou said that his country would provide all possible assistance to the Chinese investors in Pakistan.