Pak Suzuki to invest USD 460 mn in Pakistan to set up second plant
The investment plan was announced by the MD of Pak Suzuki Motors.
ISLAMABAD (Web Desk) - Managing Director of Pak Suzuki Motors Hirofumi Nagao called on the Finance Minister, Senator Ishaq Dar and discussed his company’s plan of future investment in Pakistan, the Ministry of Finance stated in a press release on Thursday.
The meeting was attended by senior officials of the Ministry of Finance and the members of the delegation of Pak-Suzuki.
On the occasion, the MD of Pak Suzuki Motors said that his company is ready to invest 460 million US dollars in Pakistan to set up a second plant. After completion of formalities, the new project will be completed within a period of two years and may start production by the end 2018, he informed.
ALSO READ: Renault to open plant in Pakistan by 2018
The Finance Minister asked the Managing Director to submit a complete plan with all the details to process the request in accordance with prescribed codal formalities / rules and procedures. He said the government is committed to provide a level playing field to all the prospective investors.
The Minister said that Pakistan has been projected by JETRO as the second choicest place for investment in the world.
The Finance Minister said that the turnaround of Pakistan’s economy, macroeconomic stability, improvement of energy and security situation in the country has provided a conducive atmosphere for foreign direct investment. He said that a number of new entrants have shown keen interest to invest in automobile manufacturing sector as well.
