Islamabad, 12 August 2022 (TDI): A delegation of Japanese investors called on Prime Minister of Pakistan, Mian Muhammad Shehbaz Sharif. The delegation discussed matters related to investment in Pakistan with the Head of the Government.
Prime Minister Shehbaz Sharif has said Japan is a long-standing friend and Pakistan highly values Japan’s cooperation in various fields. https://t.co/86wxjgA94E
— Radio Pakistan (@RadioPakistan) August 12, 2022
Highlights from the meeting
The founder of Takaji Tsuji BPS Investment Group was leading the Japanese delegation. During the meeting, the delegation expressed its interest to make an investment of $1 billion in the different sectors of Pakistan’s economy.
Moreover, Minister for Defence Khawaja Muhamad Asif, Minister for Investment Board Chaudhry Salik Hussain, Minister for Education Rana Tanvir Hussain, Special Assistant to the Prime Minister Syed Tariq Fatemi, and officials concerned attended the meeting.
Additionally, the Prime Minister appreciated the decision of the Japanese investors to invest in Pakistan and directed officials of Pakistan’s Investment Board to take all necessary steps in this direction.
The Head of the Government of Pakistan welcomed the Japanese investment as it will lead to progress and prosperity in the country and will create employment.
Moreover, the Prime Minister assured all possible assistance from Pakistan’s government for the investors. He added that Japan is a sincere friend of Pakistan and Pakistan values its cooperation with Japan in various sectors.
Japanese-Pakistani Collaborations
The year 2022 marks 70 years of Pakistan-Japan diplomatic ties. During these years, the bilateral ties have progressed, with the prime focus being on social and economic development.
Japan has supported Pakistan in areas of health, agriculture, water supply, and disaster management. Subsequently, in 2019, the Government of Japan extended grand aid of $82.12 million to Pakistan.
Furthermore, Japan is one of the largest trading partners of Pakistan with an annual trade of $1.5 billion. The Japanese automobile sector enjoys 90 percent of its vehicles in Pakistan.
Besides that, direct Investment from Japan accounted for $ 52.4 million in 2019-2020. Japanese company Toyota Motors has announced investing in hybrid cars in Pakistan with an initial investment of $100 million.
Lastly, Japan has been in a lead role in the development sector in Pakistan. The ongoing project of ‘Gravity Flow Water Supply Scheme’ in Haripur city is built with Japan International Cooperation Agency (JICA) assistance.
