Islamabad : The signing ceremony of new entrant agreement has been signed between Yamaha and Ministry of Industries on Wednesday. Secretary Industries Shafquat Hussain Naghmi singed the agreement from Pakistani side while Yasushi Ito, Managing Director of Yamaha from Japan side. On this occasion, BoI Chairman Mohammad Zubiar highlighted the initiative and credibility of the present Government and investment opportunities available in Pakistan. M/s Yamaha was also fully supported by Minister for Finance Ishaq Dar and Secretary Industries Shafquat Hussain Naghmi to materialised this mega project for manufacturing of Yamaha motor cycle plant at Karachi.

The Chairman informed that all steps are being taken by the present Government to attract foreign direct investment and development of local industry. But local industry would have to introduce modern technology to be the beneficiary of new policy formed by the government, he added.

Mohammad Zubair also said that decision of Yamaha to establish its plant in Pakistan will encourage other famous brands to invest in different sectors of the economy as the country offers more lucrative business opportunities as compare to the regional countries.