Japanese investors being encouraged to invest in auto parts sector

ISLAMABAD – Matsuda Kuninori, Ambassador of Japan, has said that his country is encouraging Japanese investors to look at investments in auto parts sector in Pakistan. Matsuda Kuninori, Ambassador of the Japan, expressed theses views in a meeting with Minister for Planning, Development and Special Initiatives Asad Umar. Matsuda Kuninori called on the Minister for Planning Asad Umar here. Both dignitaries discussed matters related to the bilateral relations, especially new possibilities of economic cooperation in the post COVID-19 situation. The ambassador expressed his desire to further enhance cooperation between the Japan and Pakistan and to help ensure that common objectives are met. The ambassador congratulated the minister on government’s skillful handling of the COVID crisis which had resulted in containing the pandemic to a large extent. He said that the government departments had shown exemplary coordination along with the provincial governments. He said that Japanese nationals were now returning to take up various assignments in Pakistan after COVID enforced break. He said that the Embassy is encouraging Japanese investors to look at investments in auto parts sector, building on the Japanese experience here in the auto manufacturing. He said that some Japanese investors would also be interested in re-locating their industry from elsewhere into Pakistan. Asad Umar appreciated the efforts of the ambassador for enhancing economic cooperation. The minister said that the government initially focused on microeconomic stability, which has been achieved. The focus is now on growth. He said, “Economic indicators are positive and we would want to push the development expenditures as well as capitalize the private sector investment.” He said that the privatization programme is also being revived. Asad Umar said that Pakistani & Japanese businesses can explore possibilities of collaboration in fisheries, agriculture and textiles. It was agree to organise a forum to discuss such opportunities in the near future.

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