Pakistan seeks Japanese investment in manufacturing to boost exports

January 16, 2025 (MLN): To further strengthen bilateral economic ties, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb urged Japanese investors to explore investment opportunities in Pakistan.

These opportunities are particularly prominent in manufacturing and production, which would contribute to the country's exportable surplus, according to the press release issued today.

The Minister made these remarks during a meeting with the Japanese Ambassador to Pakistan, Akamatsu Shuichi, who called on him at the Finance Division.

The meeting provided an opportunity for both sides to discuss ongoing economic reforms, bilateral relations, and opportunities for deeper economic cooperation.

Minister Aurangzeb reaffirmed Pakistan’s commitment to maintaining the trust and credibility of its bilateral and multilateral development partners, including Japan.

He expressed appreciation for Japan’s diplomatic, economic, and technical support and

 Ambassador Akamatsu expressed his appreciation for the progress made in Pakistan’s macroeconomic stability and the government’s reform efforts.

He provided an update on the scope of ongoing Japanese investment in Pakistan, noting that around 80 Japanese companies currently operate in the country.

These companies employ over 65,000 local workers and significantly contribute to the Pakistani economy.

Minister Aurangzeb acknowledged Japan’s valuable contributions.

He assured the Ambassador of Pakistan’s continued engagement with Japanese investors to incorporate their input in the upcoming federal budget’s policy framework.

The Minister highlighted the positive momentum in Pakistan’s macroeconomic stability, attributing it to key reforms and structural adjustments across various sectors.

These sectors include the fiscal framework, taxation, Special Economic Zones (SEZs), energy, rightsizing of the federal government, and privatization efforts.

The Minister emphasized that the government remains committed to continuing its reform agenda, focusing on critical issues such as population growth and climate change vulnerability.

He noted the importance of the 10-year Country Partnership Framework signed with the World Bank, aimed at addressing these challenges and fostering sustainable, inclusive economic growth.

Both sides expressed a strong desire to enhance and explore new avenues for collaboration.

Copyright Mettis Link News