Samsung to invest $20b in Pakistan over 10 years

[Hyde]

Samsung to invest $20b in Pakistan over 10 years​

May 15, 2010

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.

 

[Hyde]

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.

 

[WAQAS119]

OOooooo..........great News!!!!!!!!!!!!!!!!!!!! I mean really really great.

 

[Speeder 2]

fantastic news! Good for jobs, ordinary ppl, economy, industry build-up, etc... and also more fund for defence.

 

[xenia]

fantastic news! Good for jobs, ordinary ppl, economy, industry build-up, etc... and also more fund for defence.

its investment not fund for defence!

 

[Justin Joseph]

To each and every pakitstani friend, this news is fake. Samsung is to invest $20b there is no doubt about it.

But they are not investing that " $20 billion" in Pakistan.

Samsung to invest $28b

EETimes.com - Samsung to invest $21 billion in green, health businesses

EETimes.com - Samsung to invest $21 billion in green, health businesses


I will tell you how it got messes up, Samsung' Chairman chairman announced the future investment plans in seol south korea, then the pakistani press contacted samsung pakistan GM for news bytes. Then he have given his statement.

But the media has twisted it as the samsung has left the whole world and will invest all of his future investment is Pakistan.

I'm sure forget about US$ 20 billion they are not investing even 25% of that amount.

Or prove me wrong with official press release of samsung.

 

[WAQAS119]

@Justin Joseph: Ok you yourself taking the help of news items to prove above news item is wrong... nice logic

BTW nothing in your news report is stated that Samsung is not going to invest 20 billion dollars in Pakistan.

look at this report. this is from EXPRESS TRIBUNE not from HT

Samsung to invest $20b in Pakistan over 10 years – The Express Tribune

and look! it is from non Pakistan news agency

Samsung to invest 23 Trillion Korean Won in Eco, Healthcare


tell me why are you so obsessed with Pakistanis??

 

[WAQAS119]

@JJ: take it another link

Samsung to invest $20b in Pakistan over 10 years | Videos,News,Softwares,TV Shows,Pakistan,Technology and much more


now curl up and die.

 

[jha]

this is one good news in such a bad day

 

[WAQAS119]

this is one good news in such a bad day

Their was another today about JF17 avionics....

 

[WAQAS119]

its investment not fund for defence!

dude it automatically increases funds with government, they can use it for any purpose including defence......,

 

[xenia]

dude it automatically increases funds with government, they can use it for any purpose including defence......,

u see the sectors plz...
unless govt props into investment, i think its FDI not govt channelized..plus dont mind but this money is for a list of counties not for pak alone....anyway no offence!!

 

[WAQAS119]

u see the sectors plz...
unless govt props into investment, i think its FDI not govt channelized..plus dont mind but this money is for a list of counties not for pak alone....anyway no offence!!

still it is a good news....
China is also investing 1 billion dollars in Pakistan. Pakistan seems to be a target destination of investors now a days.

 

[xenia]

still it is a good news....
China is also investing 1 billion dollars in Pakistan. Pakistan seems to be a target destination of investors now a days.

i m as much pakistani as u are..of course its good news for me as well...

 

[Hyde]

don't worry guyz - whatever is coming is good for our country's economy as well as the peoples of Pakistan

Be happy for whatever is coming - and do not argue "How much" is coming