Japanese companies enlist Pakistan in the top 20 countries for business expansion through investments, a JETRO survey reported. Both the countries have agreed to cooperate in bilateral and trade business to strengthen their ties. Senior officials of Federal Board of Revenue, Ministry of Commerce, Economic Affairs Division, and Ministry of Finance recently got together with Japanese Ambassador and Businessmen to further talks regarding trade and investments.
The Japanese auto industry has been invited to strengthen the pakistani
market. Japan External Trade Organization’s President Yasushi Akahoshi and officials as well as Japanese Ambassador to Pakistan Takashi Kurai called Senator Dar here. Board of Investment Chairman Miftah Ismail also attended the meeting.
The deputation was told by the minister that recent law and order refinement has made investments more beneficial.
In addition to this he said, visa fee for Japanese businessmen has been waived and advocated that the Japanese government may consider travel advisory, so business can be maintained and developed.
Senator Dar also said that a Special Economic Zone would be established for Japanese companies and requested JETRO to work with BOI to help explore possibilities between the two countries through this platform.
The delegation was lauded for the economic reforms observed by the government which lead to the revival of foreign investment interest and acknowledgement in international business community.Pakistan had political and business establishments previously with Japan, so JETRO’s offerings were highly appraised by the minister by bringing back Japanese investments in the country.
JETRO President also recognized the government’s attempts for economic growth & progress and commended them upon completion of International Monetary Fund programme.
JETRO had been persuading investors and entrepreneurs from Japan to widen their business in Pakistan, and as a result; a Japan Trade Fair would be held in Karachi later this year.
While the government continues to suggest and highlight such news its important to understand that investments can not be developed without proper infrastructure. Its also essential to highlight the role of private sector. The next big questions are:
how is Pakistan’s entrepreneur going to benefit from the Japanese Investments and how will the japanese develop the auto industry . The real challenge would be the development of the local entrepreneur and his readiness to adapt to the Japanese culture!