ISLAMABAD - Highlighting the strengths of Pakistan’s economy, Prime Minister Shahid Khaqan Abbasi observed that investor-friendly policies of the government, economic turnaround achieved in the last four years and improved security situation offered the international business community huge incentives to invest and reap the benefits from a fast growing economy.

He was talking to Dr Joseph Baumert, member Volkswagen Board of Management, who called on him at Prime Minister’s Office Wednesday. The Prime Minister welcomed the decision of Volkswagen to invest and undertake business venture in Pakistan and assured all possible facilitation and support to the company.

He said that with its low motorization rate in the region and an enhanced road network, especially in wake of CPEC project and greater spending on communication infrastructure, Pakistan offered great opportunities to the international automobile companies to fill in the existing demand-supply gap through local production.

The Prime Minister also highlighted various features of the Auto Policy (2016-2021) that offers tax incentives and greater incentives to the new entrants in order to enable the introduction of new brands, develop market shares, create distribution and after sales service networks and develop part-manufacturer base.

The Prime Minister expressed the hope that Volkswagen’s production in the country would add quality vehicles at international standards.

Dr Joseph Baumert thanked the Prime Minister for meeting his delegation. He expressed the hope for a successful business venture in Pakistan.

Andreas Sprindler, Head of Overseas Production, Oliver Glaser, Head of Asia Pacific, Klaus – Bo Steindorff, International Policy Foreign and Governmental Relations and Yuri Konushin, Head of CKD, Syed Arshad, CEO Premier Systems Pvt Ltd., accompanied Joseph Baumert.

Secretary Board of Investment was also present during the meeting.