LAHORE: Bosch, a global supplier of technology and services, inaugurated its first office in Pakistan. Expanding the Bosch Group’s operations in the region, the office based in Lahore will serve as the liaison office for the company’s automotive aftermarket, power tools and security systems business divisions.
German Ambassador to Pakistan Ina Lepel, along with Steven Young, president, Bosch Turkey and Middle East, and Volker Bischoff, general manager of Bosch Middle East, attended the event.
Lepel said with a young and growing population of nearly 200 million people, Pakistan is an interesting market, which cannot be ignored in the long-run by multinational companies. “Bosch’s latest venture is an important milestone in our bilateral economic relations with Pakistan.”
She added that Pakistan is expected to register a steady GDP growth rate of 4.5% over the next two years according to the International Monetary Fund and lower inflation rate positively affects domestic purchasing power.
Reflecting on Pakistan’s economic growth, Young said, “We are keen to be part of Pakistan’s rising growth story. The strongly developing middle class rising consumer demand and the growth of manufacturing and automotive sectors are very positive indicators.”
Bischoff said the country is a crucial market for the sustained growth of Robert Bosch Middle East. “We are keen to develop direct relationships with our local customer’s and support the industry with our expertise.”
The German Ambassador also met Lahore Chamber of Commerce and Industry Vice President Almas Hyder and said that China-Pakistan Economic Corridor would make Pakistan an attractive business destination.
She said that strong liaison between Chambers of Commerce and Industry and business institutions of the two countries would definitely enhance the mutual trade.
The German ambassador said that Pakistan’s exports were enhancing after the GSP plus status but Pakistani businessmen would have to adopt an aggressive strategy as customers in the EU were not only quality conscious but also very selective.
Published in The Express Tribune, February 10th, 2016.