Chinese internet based B2B platform to invest $50m in Pakistan – Daily Times

Daily Times
Your right to know Friday, January 07, 2022

News Desk
December 16, 2021
Chinese internet based B2B platform, Global Building Material (GBM) has announced its plans to invest whopping US$50 million in Pakistan. Under the investment plan, GBM will open its first branch in Lahore (Pakistan) during the current month to introduce its new one-stop shopping experience for Pakistani building material retailers, and for the purpose it will launch an app for businessmen dealing in building material. Additionally, GBM is going to make comprehensive digital port zone in Karachi which includes a warehouse, digital centre, data center plus logistics center.
David Wei, the General Manager of GBM Pakistan, and his team made this announcement while talking to a group of journalists on Tuesday.
“Lahore is the most suitable city for the development of GBM and it completely fits GBM’s positioning. We hope to take Lahore as a good start for Pakistan, and empower building materials retail stores in Pakistan, so as to make their business bigger and more profitable with the wings of the Internet,” David told the reporters.
David Wei informed the media that he arrived in Pakistan in early October and visited the Ministry of Housing and Works, Ministry of Commerce, Board of Investment and other government agencies to discuss GBM’s investment plans. After a one-month market investigation, GBM finally choose to set up the branch in Lahore, he added.
“Retailers can check the supply of goods and place orders at home through the GBM app. If there is any problem, retailers can also directly consult online and have special before and after sales service being offered by GBM. Sourcing low prices and high quality Chinese hardware and building materials with ease is the unique feature of GBM,” the general manager of GBM Pakistan informed.

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