Japan would invest about USD $100M in the automobile sector

Syed AhadWeb Editor

22nd Sep, 2021. 09:38 pm
Japan

For starting the production of vehicles from Pakistan, Japan intends to invest US $100 million in the automobile sector.

Adviser to Prime Minister on Commerce, Investment Abdul Razak Dawood meets Ambassador of Japan to Pakistan, Mr. Kuninori Matsuda, and debated the upcoming plan to improve bilateral collaboration between the two countries.

A press release issued by the Ministry of Commerce contains that the Japanese Ambassador informed that ‘Toyota Corporation of Japan’ would invest about USD $ 100 million in producing and exporting hybrid vehicles from Pakistan.

An invitation was also sent by him to visit Japan which he accepted.

Matters related to two-sided cooperation and the organization of economic forums were discussed in the meeting.

The probability of aiding by Japan for up-gradation of the focus areas of infrastructure and services for many sectors like fisheries, salt, and food processing too came into the discussion.

Pakistan is moving in the correct direction, Razak Dawood said.

“We are now focusing on industrialization, enhancement of our productivity and keeping up with the latest technology by upgrading our infrastructure with Japan’s assistance” he said.

He said that our fishery and food processing approaches need to be advanced to compete globally.

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