BOI & JETRO sign an MoU to enhance investment relations between the two countries
Chaudry Salik Hussain encourages Japanese businesses to invest in Pakistan in potential investment sectors
ISLAMABAD ( Web News )
Federal Minister for Board of Investment and Special Initiatives, Chaudry Salik Hussain has said that signing of a mutually beneficial MoU between the Board of Investment Pakistan, and Japan External Trade Organization (JETRO) would realize the joint vision of enhancing joint investment cooperation between the Pakistan and Japan.
Chaudhry Salik Hussain expressed these views while addressing the Pakistan – Japan Trade & Investment Seminar organized by the Board of Investment, Islamabad, jointly with Japan External Trade Organization (JETRO), here at a local hotel on Friday. The Seminar, which hosted an audience of more than 300 business and government dignitaries, was held especially held in the honor of a Japanese delegation led by Parliamentary Vice Minister, Ministry of Economy, Trade and Industry (METI) of Japan which is presently in Pakistan to attend the 7th Session of the Pakistan Japan Government Business Joint Dialogue (PJGBJD). The official delegation is accompanied by Japanese businessmen of leading companies in various sectors. The one-day seminar was also attended by Asad Rehman Gilani, Secretary Board of Investment, Kazuya Nakajo, Executive Vice President, JETRO, Satomi Ryuji, Japanese Parliamentary Vice Minister, Teruo Asada, Chairman, Japan-Pakistan Business Cooperation Committee, and Syed Hamid Ali, Additional Secretary, Trade Diplomacy, Ministry of Commerce. Mr. Koji Yamashita, Chief Representative for Asia & Oceania, Nippon Export and Investment Insurance (NEXI), Eiji Teshima, General Manager, Association for Overseas Trade & Industry Human Resource Development (AOTS), Ms. Wakako Sakurai, Founder and CEO, Plus W, Inc., Nobuo Shiobara, President and Representative Director, Profound Vision K.K., Hitoshi Yamaguchi, Managing Director, YKK Pakistan, Shinji Yanagi, Vice Chairman, Indus Motor Company, Kazunori Yamaguchi, Country Director JETRO Karachi, besides prominent businessmen and government dignitaries participated in the Seminar.
The Seminar also included sectoral business to business and plenary sessions which provided prominent Japanese companies a suitable platform to hold detailed interactions with their Pakistani counterparts in sectors of interested, including, the Auto, Engineering, Banking, Information Technology, Minerals, Chemicals, Energy, Services, Pharmaceuticals, Agriculture, Food processing, construction, Textile, Manufacturing and other related sectors.
Federal Minister for BOI, Chaudry Salik Hussain, congratulated the Government of Japan, the Japanese Ambassador and the Embassy of Japan in Pakistan, Embassy of Islamic Republic of Pakistan in Japan, Pakistan Japan Business Forum, Japan External Trade Organization and participating Japanese delegates for completion of seventy years of excellence in diplomatic and trade relations between the Islamic Republic of Pakistan and Japan. He encouraged Japanese businesses to invest in Pakistan in potential investment sectors, such as Information Technology, Agriculture & Food processing, Logistics, Mines & Minerals, Steel mills, Construction, Housing and Tourism, where Japanese companies can explore opportunities for profitable investments with conducive policies and special incentives offered by the Government. Kazuya Nakajo, Executive Vice President, JETRO, Satomi Ryuji, Japanese Parliamentary Vice Minister, and Teruo Asada, Chairman, Japan-Pakistan Business Cooperation Committee, shared their views regarding their experience of doing business in Pakistan and their future plans. This was proceeded by a series of success stories of Japanese companies doing business in Pakistan Secretary BOI, Asad Rehman Gilani, welcomed the 15-Member High level delegation to Pakistan, and stated that the Government of Pakistan attaches highest precedence to its friendly relations with Japan and is desirous to strengthen the bilateral relations further on the economic front.
The Board of Investment (BOI), Islamabad, being the premier investment promotion and facilitation agency of Pakistan, has been appointed as the focal point of contact for Japanese investors. He appreciated the contributions of all Japanese companies working in Pakistan for the economic development of the country, especially Honda, Toyota, Suzuki Motors, Nutrico Morinaga, NEC Corporation and many others. Japanese businesses have recently made significant investments in Pakistan’s Automobile, steel, chemicals, food and other sectors. However, he informed that there is still much room for further expansion of investments in Auto sector, Renewable energy, Electronics, Food processing, and Engineering sectors.
Secretary BOI appreciated the generosity extended time and again, by Japan in diverse areas whenever needed. At this time, the entire Pakistani nation is united to collectively overcome the losses caused by recent flooding in various parts of Pakistan. He commended the unwavering support of the Government and people of Japan for their unwavering support, by providing emergency assistance of USD 7 million.
Jamil Ahmad Qureshi, Director General Investment Promotion, BOI, delivered a detailed presentation on Investment opportunities in Pakistan in relevant sectors of interested, including the special economic zones in Pakistan. The Japanese delegation expressed their satisfaction towards support provided by the Government of Pakistan in general, and the Board of Investment, Islamabad, in particular, to the Japanese enterprises doing business in Pakistan. Federal Minister BOI assured that Japanese delegation of full support by the Government of Pakistan in execution of projects of Japanese businesses in Pakistan.