Islamabad, 30 September 2022 (TDI): A mutually beneficial Memorandum of Understanding (MoU) between the Board of Investment (BOI) Pakistan & the Japan External Trade Organization (JETRO) was signed in a ceremony.

Chaudry Salik Hussain, Federal Minister for BOI and Special Initiatives stated that the signing of would realize a joint vision of enhancing joint investment cooperation between Pakistan and Japan.

On Friday, he spoke at a Pakistan-Japan Trade & Investment Seminar hosted by the Board of Investment, Islamabad. The Seminar was hosted in collaboration with the Japan External Trade Organization (JETRO) at a local hotel.

The Seminar drew over 300 business and government dignitaries. It was held in honour of a Japanese delegation led by Parliamentary Vice Minister, Ministry of Economy, Trade and Industry (METI) of Japan.

The Japanse Minister is is currently in Pakistan to attend the 7th Session of Pakistan-Japan Government Business Joint Dialogue (PJGBJD).

The Seminar also included sectoral business-to-business and plenary sessions, which provided a suitable platform for prominent Japanese companies to hold detailed interactions with their Pakistani counterparts in sectors of interest.

These include automobiles, engineering, banking, information technology, minerals, chemicals, energy, services, pharmaceuticals, agriculture, food processing, construction, textile, manufacturing, and other related sectors.

Chaudry Salik Hussain, Federal Minister for BOI, congratulated the Government of Japan, the Japanese Ambassador and the Embassy of Japan in Pakistan, the Embassy of the Islamic Republic of Pakistan in Japan.

He also congratulated the Pakistan Japan Business Forum, the Japan External Trade Organization, and participating Japanese delegates on the completion of seventy years of excellence in diplomatic and trade relations between Pakistan and Japan.

Also Read: 7th Session of Japan-Pakistan Joint Government-Business Dialogue

He urged Japanese companies to invest in Pakistan in potential investment sectors such as information technology, agriculture and food processing, logistics, mines and minerals, steel mills, construction, housing, and tourism.

Japanese firms can explore opportunities for profitable investments in the above shared sectors with conducive policies and special incentives provided by the government.

Federal Minister BOI promised the Japanese delegation of the Government of Pakistan’s full support in the execution of Japanese commercial ventures in Pakistan.

Executive Vice President of JETRO, Japanese Parliamentary Vice Minister, and Chairman of the Japan-Pakistan Business Cooperation Committee discussed their business experiences in Pakistan and future plans.

The Japanese delegation expressed their appreciation for the assistance provided to Japanese businesses conducting business in Pakistan by the Government of Pakistan in general, and the Board of Investment, Islamabad in particular.

This was followed by a string of success stories about Japanese businesses conducting business in Pakistan. Asad Rehman Gilani, Secretary BOI, also welcomed the 15-member high-level delegation to Pakistan.

He noted that the government of Pakistan places the highest priority on its cordial relations with Japan and wishes to expand bilateral cooperation on the economic front.

The Board of Investment (BOI), Islamabad, Pakistan’s top investment promotion and facilitation body, has been designated as the primary point of contact for Japanese investors.

Asad Rehman Gilani praised all Japanese companies operating in Pakistan for the country’s economic development, particularly Honda, Toyota, Suzuki Motors, Nutrico Morinaga, NEC Corporation, and many more.

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Japanese corporations have recently made major investments in Pakistan’s automobile, steel, chemical, food, and other industries.

However, he stated that there is still a lot of space for growth in the auto, renewable energy, electronics, food processing, and engineering sectors.

Secretary BOI praised Japan’s support in a variety of sectors whenever it was required. At this time, the entire Pakistani nation is working together to overcome the losses inflicted by recent flooding in various sections of the country.

He praised Japan’s government and people for their continuous support, presenting an emergency aid package worth USD 7 million.

Jamil Ahmad Qureshi, Director General of Investment Promotion at the BOI, also gave a detailed presentation on investment prospects in Pakistan in key sectors of interest, including Pakistan’s special economic zones.

Kazuya Nakajo, Executive Vice President, JETRO, Satomi Ryuji, Japanese Parliamentary Vice Minister, and Teruo Asada, Chairman, Japan-Pakistan Business Cooperation Committee attended the event.

Moreover, Syed Hamid Ali, Additional Secretary, Trade Diplomacy, Ministry of Commerce also attended the one-day seminar.

Koji Yamashita, Chief Representative for Asia & Oceania, Nippon Export and Investment Insurance (NEXI), and Eiji Teshima, General Manager, Association for Overseas Trade & Industry Human Resource Development (AOTS) also graced the occasion.

In addition, Wakako-Sakurai, Founder and CEO, Plus W, Inc., Nobuo Shiobara, President and Representative Director, Profound Vision K.K., Hitoshi-Yamaguchi participated in the Seminar.