Pakistan ideal place for investment: Groot


METRO Cash & Carry International Chief Operating Officer Jeroen de Groot has said that Pakistan is an ideal place for foreign investment and situation is not the same as it is portrayed in media.

Jeroen de Groot and Nadeem Rehmani, Director Operations METRO Cash & Carry Pakistan, called on BOI Chairman Mohammad Zubair to discuss further investment plans of the company.

Jeroen de Groot said the company was very much satisfied with its operations and existence in Pakistan. He said before coming to Pakistan, they had heard that this was not the safe country due to the travel advisory but he would suggest the foreign investors to visit Pakistan as the situation was not the same as it was being portrayed in media.

He further said that they promoted the local market, 95 percent of the goods/items in the stores were produced in Pakistan and they export only 5 percent from Germany and other countries. They acquired the breakeven in only five years after their operations in Pakistan and their performance was even better than Metro of India, he added. Our target was to open 30 stores in the next three years in Pakistan for the one million populations and the company was also planning to invest in stock exchange.

During the meeting, the BOI chairman said that the new government was giving top priority to overcome energy crises, security issues and attraction of FDI promotion to put Pakistan on a fast track to attain sustainable economic growth. The government was also focusing on manufacturing, retail businesses and infrastructure development to promote industries in Pakistan.

Jeroen de Groot  said that METRO Cash & Carry International (MCCI) operates more than 700 stores in 29 countries in Europe, Asia and Africa and had workforce of over 100,000 employees with sales in 2012 approximately 66.7 billion Euro.



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