Japan to invest around $ 100 million in the automotive sector

To start production of vehicles from Pakistan, Japan intends to invest US $ 100 million in the automotive sector.

Prime Minister’s Trade and Investment Advisor Abdul Razak Dawood met with Japanese Ambassador to Pakistan Kuninori Matsuda and discussed the upcoming plan to improve bilateral collaboration between the two countries.

A press release issued by the Ministry of Commerce indicates that the Japanese ambassador has informed that the “Toyota Corporation of Japan” will invest around US $ 100 million in the production and export of hybrid vehicles from Pakistan.

An invitation was also sent by him to visit Japan which he accepted.

Issues related to bilateral cooperation and the organization of economic forums were discussed during the meeting.

The likelihood of Japan’s assistance for upgrading areas of interest in infrastructure and services for many sectors such as fisheries, salt and food processing also entered the discussion.

Pakistan is moving in the right direction, said Razak Dawood.

“We are now focusing on industrialization, improving our productivity and maintaining the latest technology by modernizing our infrastructure with the help of Japan,” he said.

He said our approaches to fishing and food processing need to be improved to be globally competitive.

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