ISLAMABAD – Prime Minister Shehbaz Sharif has urged Japanese companies to seize the vast investment opportunities available in Pakistan.
In a meeting with President Toyota Asia, Yoshiki Konishi, and Chief Executive Officer of Indus Motors, Ali Asghar Jamali, held in Islamabad, the Prime Minister discussed the potential for collaboration and expansion of business ventures.
During the meeting, Konishi and Jamali apprised the Prime Minister of Toyota Indus Motors’ recent establishment of a unit dedicated to the production of hybrid vehicles in Pakistan. This venture entails an initial investment of 100 million dollars, marking a significant milestone in the country’s automotive industry.
Shehbaz Sharif warmly welcomed Toyota’s initiative to manufacture hybrid vehicles within Pakistan’s borders. He highlighted that domestic production of hybrid vehicles would substantially reduce the import bill, resulting in valuable foreign exchange savings for the nation. Emphasizing the government’s commitment to facilitating the growth of industries, the Prime Minister assured that all necessary support and facilities would be provided to encourage investment in advanced technologies across the country.
Furthermore, the prime minister was pleased to learn that Toyota Indus Motors plans to commence the export of spare parts for vehicles from July of the current year. This development is expected to integrate Pakistan into the global supply chain, enhancing the country’s position in the international market.
The meeting concluded with a shared commitment to fostering a mutually beneficial partnership between Japanese companies and Pakistan. Prime Minister Shehbaz Sharif expressed his optimism about the immense potential for collaboration and investment, affirming that Pakistan is open for business and welcomes foreign companies seeking to capitalize on the country’s burgeoning opportunities.
