the agreement level,” said Hamza Saeed. He said that authority STZA devised a multi-pronged strategy in consultation with Chinese stakeholders. The Foreign Office of Pakistan has a special section for Chinese affairs while the STZA has introduced a comprehensive strategy with the Pakistani embassy in China about outreach to Chinese businesses. Pakistan embassy issued 200 letters to different Chinese tech companies. According to the ministry’s report, China has positioned itself as a hub for manufacturing and supplying hardware components which makes the supply of such products in abundance and at affordable prices. The volume of the global semiconductor chip industry is expected to reach about $600 billion in 2022 with 80% of the products coming from a handful of manufacturers in selected countries. The past two years have seen a critical chip shortage, which has resulted in a loss of more than $500 billion. The chip industry is looking to increase its overall output on a global scale so that the supply and demand disparity does not get as dire as it did in 2020. The governments have already committed billions of dollars to increase output with some 50% higher outputs expected from traditional manufacturing clusters in places like China’s Taiwan region and Korea.
ISLAMABAD - Pakistan and China have joined hands to build a semiconductor zone in the
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