Nestlé pledges fresh $60m for Pakistan, eyes regional export hub role

Nestlé has announced an additional $60 million investment in Pakistan, signalling renewed confidence by a major multinational in the country’s economic reform trajectory, the finance ministry said on Thursday.

The commitment was disclosed during a high level business roundtable held on the sidelines of the World Economic Forum annual meeting in Davos. The session was chaired by Finance Minister Muhammad Aurangzeb and attended by chief executives and senior leaders of several multinational companies to discuss Pakistan’s investment climate and long term growth prospects.

According to the finance ministry, Nestlé Executive Vice President and Chief Executive Officer for Asia, Oceania and Africa Remy Ejel told participants that the company would move ahead with a robust expansion of its operations in Pakistan. He described the new capital injection as part of Nestlé’s long term commitment to the country.

Ejel said Nestlé also plans to use Pakistan as a regional manufacturing and export hub, with products to be shipped to 26 countries. He expressed strong confidence in Pakistan’s economic outlook and said the company expected solid growth in its local business in the years ahead.

Aurangzeb welcomed the announcement, calling it a strong vote of confidence in Pakistan’s economic reforms and formalisation efforts. He said the government remained committed to policy consistency, strengthening the tax system and facilitating long term private sector investment.

The finance minister said Pakistan offered opportunities in affordable nutrition, climate resilient dairy, local sourcing and export oriented manufacturing, adding that the government aimed to position the country as a competitive base for regional production and integration into global value chains.

Detailing Nestlé’s operating approach, Ejel said the company’s strategy in Pakistan was centred on localisation, advanced manufacturing, sustainability and agricultural transformation. He pointed to progress in automation, renewable energy usage, improved packaging and digitalised supply chains, saying these initiatives had boosted efficiency while lowering environmental impact. He added that Pakistan’s demographic profile and nutrition needs mirrored growth patterns previously seen in parts of Southeast Asia.

Separately, Aurangzeb also met Microsoft co founder and philanthropist Bill Gates on the sidelines of the forum. Discussions focused on Pakistan’s reform agenda, public health priorities and strengthening cooperation with the Gates Foundation.

The finance minister acknowledged the foundation’s longstanding support, particularly in polio eradication and health service delivery. Gates, in turn, shared updates on ongoing and future engagement in Pakistan and reaffirmed support for polio eradication efforts through coordination with provincial authorities.

The meeting also covered cooperation on digitising Pakistan’s taxation system to improve transparency and domestic resource mobilisation, as well as potential collaboration in the health sector, including local vaccine production and stronger supply chains, the ministry said.

Prime Minister Shehbaz Sharif is in Switzerland to attend the WEF’s 56th annual meeting, which runs from Monday to Friday in Davos and brings together global leaders and corporate executives to discuss economic challenges and policy responses.

Meanwhile, Deputy Prime Minister and Foreign Minister Senator Muhammad Ishaq Dar held a series of sideline meetings, including talks with Thai Foreign Minister Sihasak Phuangketkeow to review bilateral ties and expand cooperation in trade, investment and agriculture. Dar also met International Committee of the Red Cross President Mirjana Spoljaric Egger to discuss strengthening collaboration, and separately met Turkish Foreign Minister Hakan Fidan, reaffirming the longstanding bond between Pakistan and Turkey.