Chinese internet-based B2B platform GBM to invest US $50 million in Pakistan

Lahore: Chinese internet-based B2B platform, Global Building Material (GBM) has announced its plans to invest US $50 million in Pakistan.

GBM General Manager in Pakistan David Wei, and his team made this announcement during a press briefing here at the Lahore Press Club.

The GBM would open its first branch in Lahore during the current month to introduce its new one-stop shopping experience for Pakistani building material retailers, and for the purpose it would launch an app for businessmen dealing in building material.

Additionally, the GBM was going to make comprehensive digital port zone in Karachi which includes a warehouse, digital centre, data center plus logistics center.

David Wei mentioned that 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.”

He underlined that retailers can check the supply of goods and place orders at home through the GBM app, adding that if there is any problem, retailers can also directly consult online and have special before and after sales service being offered by GBM.

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.

GBM 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.

Its parent company Hangxiao Steel Structure Co. Ltd, which is the first Chinese steel structure company and has 35 years experience in the construction industry.