Commerce Minister unveils 5-year plan to boost Investment, efficiency

April 02, 2024 (MLN): The Commerce Minister Jam Kamal Khan disclosed the Ministry of Commerce's comprehensive five-year plan aimed at streamlining business processes and attracting both local and foreign investors on Monday during a meeting with Pakistan’s Ambassador to Japan WADA Mitsuhiro.

During the meeting, Ambassador WADA Mitsuhiro and Jam Kamal Khan, convened to discuss ways to strengthen trade relations and mutual trust between Japan and Pakistan.

Notably, the ambassador extended an invitation to Pakistani businesses to participate in World Expo 2025 which is scheduled to be held in Osaka Japan in 2025 to promote economic cooperation.

Despite the optimism, challenges faced by the Japanese business community in imports were brought to light by Ambassador WADA Mitsuhiro.

Minister Jam Kamal Khan responded by assuring government support to facilitate ease of doing business for local and international entrepreneurs.

Emphasizing sustainable economic development, Minister Jam Kamal Khan highlighted key sectors such as automobile, steel, machinery, textiles, minerals, and IT HR for potential collaboration with Japan.

Moreover, Minister Jam Kamal Khan disclosed the Ministry of Commerce's comprehensive five-year plan aimed at streamlining business processes and attracting both local and foreign investors.

Both dignitaries reaffirmed their commitment to fostering a balanced trade environment and strengthening the longstanding bilateral relations between Pakistan and Japan.

They also agreed to work towards enhancing the trade volume, which stood at $1.26 billion USD in 2022-23, according to sources from FBR and TDAS.

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