"Japanese firms to invest in Pakistan's steel, baby formula milk industries"

ISLAMABAD: Adviser to Prime Minister on Commerce, Textile and Industries Abdul Razak Dawood said that officials from major Japanese firms are scheduled to visit Pakistan next month for making investments in country’s steel and baby formula milk industries.

Speaking at a press conference, Dawood informed that last month Japanese companies assured to invest in Pakistan during the bilateral trade talks in Japan.

He said a delegation of Japanese companies, manufacturing steel and baby formula milk, will be visiting Pakistan after January 15.

Moreover, the Japanese government also promised to allocate skill development and technology development funds for small industries in Pakistan, the PM adviser said.

Sharing further, he continued that talks on a change in independent trade agreement with Malaysia will also be held in January, whereas the projects under the first phase of China-Pakistan Economic Corridor will be completed in next 10-12 months.

The PM’s advisor said the Pakistani government has been working on a policy to give incentives to industrial sector for increasing exports while separate policies would be drafted for each industry.

Prime Minister Imran Khan while addressing Pakistan Economic Forum two days earlier, said his vision was to make Pakistan a financially viable and economically self-reliant country, by getting rid of the dependency syndrome.

He explained that wealth creation was necessary to take the country forward and a business friendly culture would be introduced in the country to encourage businessmen to invest their capital in various sectors.