(Tokyo, September 09, 2021): Carrying the focus on economic diplomacy, Embassy of Pakistan in Tokyo has been actively engaged with Japanese investors to take benefit of the attractive investment regime in Pakistan, facilitated with support from the current government in the shape of new policies that are not only incentivizing new investments but also ensuring better regulatory support to foreign investments.
Japanese companies have significant investments in Pakistan for which our Mission in Tokyo, through its Trade & Investment Wing, keeps extending support to resolve any issues related toexisting investments while keeping prospective investors updated on new opportunities to further expand and diversify portfolios in Pakistan.
In a meeting with Prime Minister Imran Khan, CEO for Toyota Asia Mr. Yoichi Miyazaki has announced a fresh investment of US$100 million in Pakistan for brining latest hybrid electric technology to Pakistan. While appreciatingcurrent government’s policies to encourage low carbon mobility solutions, he further emphasized the effective role of electrified vehicles in achieving larger environment related goals. Mr. Yoichi said that Toyota is certain that hybrid electric vehicles have the greatest potential to achieve mass electrification and effectively reduce carbon emissions at the earliest timeframe, contributing to Prime Minister’s noble vision of Clean and Green Pakistan.
Along with the Minister of Finance Mr. Shaukat Tarin, Minister for Industries Mr. KhusroBukhtiar and Minister for Energy Mr. Hammad Azhar, Mr. Ali Jamali, CEO of Indus Motor Company was also present at the meeting.
This US$100 million investment from Toyota will go towards localization of components, capacity expansion and production preparation for the first Hybrid Electric Vehicle to be manufactured at Indus Motor Company Limited plant located at Port Qasim, Karachi.
At the meeting, welcoming this new investment and increasing confidence of investors in new policies of the government, the Prime Minister emphasized on importance of investments focusing technology transfer and export orientation.
Since last year, during various meetings with Toyota’s team at External Affairs Division in Tokyo lead by Mr. Hitoshi Bizen, Ambassador Mr. Imtiaz Ahmad and Trade & Investment Counselor Mr. Tahir Habib Cheema have been emphasizing the need for localization of components by the Japanese auto manufacturers in Pakistan with the objective to integrate small and medium enterprises in this technology driven supply chain. As a positive outcome of these efforts, the Mission welcomes this new investment commitment by Toyota ensuring significant localization and transfer of modern technology.