Dar urges Japanese companies to enhance investment in Pak auto industry
ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar Saturday while appreciating the Japanese investment in auto industry of Pakistan, urged the Japanese companies to enhance their investment in the particular sector.
He was talking to Japan External Trade Organization (JETRO)
President Yasushi Akahoshi, who along with JETRO officials and Japanese Ambassador to Pakistan Takashi Kurai, called on him here.
Among others, the meeting was attended by Board of Investment (BoI) Chairman Miftah Ismail.
The minister informed the delegation that the investment climate in Pakistan had improved due to significant improvement in law and order situation.
Pakistan, he said, had abolished visa fees for Japanese businessmen and urged the Japanese government to remove its travel advisory for the country so that bilateral business could be further facilitated.
He said the government would facilitate setting up of a Special Economic Zone for Japanese companies in Pakistan and urged JETRO to work with the BoI to further explore that mutually beneficial opportunity.
The Minister apprised the delegation on the economic reform process undertaken by the government, which he said that the reform programme was bearing fruit in the shape of revived interest of foreign investors in Pakistan and recognition from the international business community.
The minister appreciated the contribution of JETRO for bringing Japanese investment in Pakistan. His country, he added, was having old and established business and political relations with Japan.
He also lauded the contribution of JETRO for bringing Japanese investment in Pakistan.
On the occasion, the JETRO President appreciated the government’s efforts on economic growth and development and congratulated on successful completion of the International Monetary Fund programme.
He said JETRO was encouraging Japanese investors and entrepreneurs to visit Pakistan for expansion of their business. It would be holding a Japan Trade Fair in Karachi later this year, he added.
According to a JETRO survey, Japanese companies, for their future expansion plans of one to two years, rate Pakistan the highest among 20 countries/regions for investment.
Both the sides agreed to work together to further increase bilateral trade and business.
Senior officials of the Federal Board of Revenue (FBR), Ministry of Commerce, Economic Affairs Division and Ministry of Finance attended the meeting.