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Internet-based B2B platform GBM to invest $50m in Pakistan
  ·  2021-12-24  ·   Source: The Daily Mail, Pakistan
Chinese internet-based B2B platform, Global Building Material (GBM), has announced its plans to invest $50 million in Pakistan. 

Under the investment plan, GBM will open its first branch in Lahore city of Punjab province during the current month to introduce its new one-stop shopping experience for Pakistani building material retailers. For this purpose, it will launch an app for businessmen dealing in building material. Additionally, the GBM is going to make a comprehensive digital port zone in Karachi which includes a warehouse, digital centre, data centre plus logistics centre. 

David Wei, General Manager of GBM Pakistan, made this announcement with his team while talking to the media on December 14, 2021. 

“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 said. 

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, the GBM finally chose to set up the branch in Lahore.

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