ISLAMABAD – Malaysian companies are eagerly seeking to invest in livestock and dairy sectors in Pakistan to increase the import of halal meat and dairy products to the tune of $1.0 billion per annum.
This was revealed by Board of Investment (BOI) Chairman Saleem H. Mandviwalla at a joint news conference with the Ambassador of Malaysia Dato Ahmad Anwar Bin Adnan in a media briefing on the upcoming Pakistan investment conference in Kuala Lumpur. The conference has been arranged in collaboration with the Malaysian Industrial Development Authority in the Malaysian capital on March 31.
The businessmen of both the countries would attend the moot to look for joint opportunities in power, construction, halal product, IT and education sectors. Malaysian investors are apparently enthusiastic to invest in Pakistan, especially in the agriculture and halal food sectors.
They want to enhance their agricultural commodities imports from Pakistan, Mandviwala asserted. He claimed that the conference would help inform Malaysian investors of opportunities in power, infrastructure, construction, agriculture, agro processing and halal food sector.
Malaysian Ambassador Dato Ahmad Anwar Bin Adnan stressed that the Malaysian government would facilitate the business communities of both countries and encourage the establishment of joint ventures. Malaysian investment could come in energy, construction, mining and halal food sectors, he noted.
In reply to a question on the exit of Malaysian state owned petroleum company, Petronas, from Pakistan, he pointed out that the company’s decision was a purely commercial decision and the Malaysian government had no role in the decision. “Since the company did not discover enough gas in Pakistan, it decided to sell its assets. This was purely a commercial decision taken in best interest.”
Malaysia is deficient in meat, milk and dairy production. The Malaysian government is inclined to develop a local dairy industry to meet domestic needs of fresh milk as well as for the production of milk based products like Mozzarella cheese, fresh butter and other products.
Pakistan having more than 110 million cattle and being the fifth largest milk producer in the world could easily meet Malaysian meat and dairy requirements and stands to gain from Malaysian expertise in processing, packaging, marketing and establishing a supply chain to capture a major chunk of the fast growing trillion dollar halal market.
