TOKYO – Seeking cooperation of investors to explore enormous possibilities of strengthening and expanding business relations with Pakistan, President Asif Ali Zardari on Tuesday invited the Japanese business community to rejuvenate Pakistan’s economy through their individual contribution, joint venture or consortia.
Commenting on investment-friendly environment established by the present government, the president said, “The government has designated a 2000-acre Special Economic Zone (SEZ) exclusively for the Japanese investors near the port city of Karachi.” He was addressing a luncheon meeting with Japan Pakistan Business Cooperation Committee (JPBCC) on the second day of his three-day visit to Japan.
“Pakistan has steadfastly pursued liberalisation and de-regulation of economy with liberal and friendly policies for foreign investors and the privatisation process. There is no upper limit of foreign equity and no restriction on repatriation of capital, profits and dividends,” the president maintained.
Among other leading companies, the luncheon meeting was also participated by the chief executives of Sharp Corporation, Toyota Tsusno Corporation, Mitsubishi, Toyota Motors, Jetro, Marubeni Corporation, JCCI, AEON Ltd, Mitsui and Co Ltd, Suzuki Motors Corporation, Meiji Gakuin University, ORIX Corporation, Honda Motors Company Ltd and Panasonic.
Zardari said that Pakistan was strategically located in the neighbourhood of the mega markets of China, India, energy-rich central and west Asia and the affluent Gulf area and it could act as a hub for exports to these regions with its own 170 million consumers, backed up by availability of abundant raw material, cheap and skilled labour.
He said with an attractive package of tax incentives, investments in Pakistan were given comprehensive legal protection. The president said Pakistan was facing energy deficiency, which was an opportunity for the foreign investment.
