Bears Inc, a Japanese technology company, stated that it would collaborate with Pakistan’s Saffran Group Company to establish a $3.2-million IT platform for its real estate industry, as part of its strategy to expand globally.
The overall cost of product development would be JPY 350 million ($3.2 million), of which JPY 130 million has already been spent on work and an investment road map.
According to the Pakistan Software Export Board (PSEB) and JETRO, this is one of the largest direct orders placed with Pakistan by a Japanese corporation in the information technology sector. The news comes as Pakistan seeks to expand its information technology industry, with Finance Minister Shaukat Tarin singling out the sector as one to watch.
Imtiaz Ahmad, Pakistan’s Ambassador to Japan, promised Michiyoshi Takuma, president of Bears Real Estate Co. Ltd, and Mirza Asif Baig, CEO of Saffran Group, of the embassy’s and government’s full assistance in completing the project successfully.
“We are pleased that Bears Inc. Japan has chosen Saffran Group to develop this product, which will be completed by Pakistani high-tech IT experts,” the Pakistani embassy in Japan stated in a statement.