Some Japanese auto industry may relocate to Pakistan

Japan was encouraging its investors to look at investments in the autoparts sector in Pakistan and some Japanese investors would also be interested in re-locating their industry from elsewhere into Pakistan, said Matsuda Kuninori, Ambassador of Japan during a meeting with the Minister for Planning, Development and Special Initiatives Asad Umar in Islamabad.
Mr Kuninori called on the Minister for Planning Asad Umar here. Both dignitaries discussed matters related to the bilateral relations, especially new possibilities of economic cooperation in the post-COVID-19 situation. The ambassador expressed his desire to further enhance cooperation between Japan and Pakistan and to help ensure that common objectives are met. The ambassador congratulated the minister on the government’s skillful handling of the COVID crisis which had resulted in containing the pandemic to a large extent. He said that the government departments had shown exemplary coordination along with the provincial governments. He said that Japanese nationals were now returning to take up various assignments in Pakistan after COVID enforced break. He said that the Embassy is encouraging Japanese investors to look at investments in the auto parts sector, building on the Japanese experience here in auto manufacturing. He said that some Japanese investors would also be interested in re-locating their industry from elsewhere into Pakistan. Asad Umar appreciated the efforts of the ambassador for enhancing economic cooperation. The minister said that the government initially focused on microeconomic stability, which has been achieved. The focus is now on growth. He said, “Economic indicators are positive and we would want to push the development expenditures as well as capitalize the private sector investment.” He said that the privatization program is also being revived. Asad Umar said that Pakistani & Japanese businesses can explore possibilities of collaboration in fisheries, agriculture, and textiles. It was agreed to organize a forum to discuss such opportunities in the near future.