Business
Chinese internet based B2B platform to invest $50 million in Pakistan
GBM will open its first branch in Lahore (Pakistan) during the current month.
LAHORE: Chinese internet based B2B platform -- Global Building Material (GBM) -- has announced its plans to invest whopping $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.
GBM (www.gbm001.com) is a leading cross border one stop door to door building materials platform, which is aiming to link global building material manufacturers, trading companies and terminal customers together.
Improving the degree of trade demand satisfaction of both sides by database, internet and global door to door logistic service, and then apply digital trading, block chain, big data, AI service to help increase the efficiency and reduce the cost in procurement.
GBM has gathered nearly 10,000 excellent suppliers of building materials in China, and has achieved a good reputation by serving nearly a thousand of construction and engineering companies in China with ultra-low prices and perfect after-sales services.
It's parent company Hangxiao Steel Structure, which is the first Chinese steel structure company, has 35 years experience in the construction industry and the company’s total assets are over Rs20 billion.