Mitsubishi keen to enhance investments in Pakistan, PM told

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  • PM reiterates his commitment to creating a business-friendly environment for foreign investors

ISLAMABAD: Kimihide Ando, the chief executive of Japan’s largest trading company, Mitsubishi Corporation, called on Prime Minister Imran Khan on Tuesday to discuss his company’s investment plans in Pakistan.

Kimihide Ando was heading a delegation of Mitsubishi Corporation comprising the company’s country head and other high-level officials. The meeting was also attended by Adviser to PM for Commerce Abdul Razak Dawood and Energy Task Force head Nadeem Babar.

Ando said in order to enhance Tokyo’s engagement with Islamabad, the Japanese government has decided to support its companies with regard to increasing their investments in Pakistan.

The chief executive praised the business-friendly policies of the present government and intended to strengthen his company’s footprint in meeting the energy requirements of the country.

Ando also briefed the prime minister on the long association of the Japanese company with Pakistan, spanning over six decades. He said that Mitsubishi has had great experience of undertaking profitable business ventures in Pakistan.

PM Khan on the occasion said that the federal government was formulating a strategy to create a business-friendly environment, besides bringing reforms to create ease of doing business for foreign investors.

The premier thanked the Japanese government for deciding to increase the volume of investments in Pakistan. He also welcomed Mitsubishi Corporation’s interest in exploring greater business opportunities in Pakistan.

According to data released by the State Bank of Pakistan (SBP) on Feb 18, the foreign direct investment (FDI) during July-Jan FY19 declined by over 17pc compared to the same period last year.

However, year-on-year inflows during January increased by 2.404pc reaching $132 million from the $128.9 million received during the same month last year.

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