Japanese Ambassador to Islamabad Islamabad-Kuninori Matsuda visited the Board of Investment on Friday and met with the Minister of State / Chairman and Board of Investment Atif R. Bokhari. To discuss and explore key areas of investment opportunities available in Pakistan.
The Minister of State / Chairman highlighted the investment opportunities and opportunities available to Japanese investors and companies. Japanese businesses in Karachi were discussed at the meeting. MOS / Chairman BOI suggested that Japan may be willing to participate in the Karachi redevelopment project. In this regard, the investment is an opportunity to upgrade the existing water supply management system and improve transport facilities such as the Karachi Circular Railway and the Kemari to Pipri Railway. Kuninori Matsuda said they were already investigating the development of the water supply system in Faisalabad and could consider it in Karachi as well.
Highlighting Pakistan’s fisheries sector, in particular, the Japanese ambassador stated that they would encourage their government and private sectors to invest in Pakistan’s fishing industry. He said they are already working on a fishing project like the Korangi Fish Harbor project. The ambassador said he intends to further expand the Japanese auto industry and textile industry investment in the country. Chairman BOI stated that the Japanese automotive industry standardization in Pakistan will be brought to the next level.
During the meeting, the pharmaceutical sector was also discussed. The Honorable Chairman commented that at present Active Pharmaceutical Ingredients (APIs) are mainly imported from India and China, however, Japanese pharma companies can cooperate with Pakistan rivals in developing active pharmaceutical ingredients of medicines. He was also interested in agriculture and food processing. He said Pakistan was already exporting agricultural products such as mangoes, basmati and dates to Japan, however, due to the large travel distance, the processing quality of these products could be improved.
The city of Osaka is a hub for business clusters and small / medium enterprises in Japan, although a commercial consulate / government licensed body from Pakistan is not available there, the envoy said. He added that an office there could enhance cooperation between the two countries. The Chairman agreed and stated that the BOI would coordinate with the Ministry of Foreign Affairs in connection with this proposal. The Japanese Ambassador invited the Chairman BO to attend future events and meetings of the Karachi and Lahore Chapters of the Japanese Business Community. MOS / Chairman BOI stated: “Once such an invitation is received, he will consider it positively.”
The MOS / Chairman pointed out that CPEC cess is open to all countries except China for development and investment. He briefed the Ambassador on the potential of a Japanese-based developer for the Dhabiji Special Economic Zone in Sindh and invited Japanese enterprises to set up units in SEZs. He commented that Dhabeji has a very good location as it resembles the port of Karachi.