ISLAMABAD-Kuninori Matsuda, Ambassador, Embassy of Japan in Islamabad, visited Board of Investment on Friday and met with Minister of State/Chairman, Board of Investment Atif R .Bokhari to discuss and explore the key areas of investment opportunities available in Pakistan.
The minister of state/chairman highlighted the investment potential and opportunities available for Japanese investors/companies in Pakistan. During the meeting, Japanese businesses in Karachi were discussed. MOS/chairman BOI suggested that Japan may like to be involved in Karachi Redevelopment Plan. In this regard, upgrading the existing system of water supply management, improving transport amenities like Karachi Circular Railway, Kemari to Pipri rail line are opportune for investment. Kuninori Matsuda stated that they are already looking into development of Water Supply System of Faisalabad and may consider it in Karachi as well.
Pakistan’s fisheries sector was especially highlighted, and the Japanese ambassador stated that their government and private sectors would be urged to invest in fisheries industry of Pakistan. He said that they are already working on fisheries project like the Korangi fish harbor project. The ambassador conveyed intention of further expanding the Japanese auto-industry and textile industry investments in the country. Chairman BOI stated that Japanese auto industry standardization in Pakistan may be brought up to next level.
During the meeting, pharmaceutical sector was also discussed and the honorable chairman noted that currently Active Pharmaceutical Ingredients (API’s) are mainly imported from India and China, however, Japanese pharma companies could cooperate with Pakistani counterparts in development of active pharmaceutical ingredients for medicines. He also showed interest in agriculture and food processing sectors. He highlighted that Pakistani agriculture items like mangoes, basmati and dates are already being exported to Japan, however due to great travel distance, processing standards of these products can be improved.
Envoy apprised that the city of Osaka is a center of business clusters and small/medium industry in Japan, however, a commercial consulate/government liaison body from Pakistan is not available there. He remarked that an office there can improve the cooperation between both countries. The chairman acknowledged and stated that BOI may coordinate with Ministry of Foreign Affairs with respect to the proposal. Japanese ambassador also invited chairman BOI to attend as a speaker in future events/meetings of Karachi and Lahore chapters of Japanese business communities. MOS/chairman BOI stated: “He will consider positively once any such invitation is received.”
MOS/chairman indicated that CPEC SEZ’s are also open to countries other than China for development and investment. He enlightened the ambassador about prospect of Japanese based developer for the Dhabeji Special Economic Zone in Sindh, and also invited Japanese enterprises to establish units in SEZs. He noted that Dhabeji has a very good location given its close proximity to the Karachi Port.