Investment policy conducive for business: Alvi

ISLAMABAD: Pakistan’s investment policy has been designed to provide a comprehensive framework, which will create an environment conducive for business and attract foreign direct investment (FDI), said President Dr Arif Alvi.

In a meeting with Morinaga Milk Industry Co President Michio Miyahara on Thursday, the president said Pakistan had adopted a very liberal and investment-friendly policy, which was free from restrictions on repatriation of capital, profit and dividend. In order to ensure a favourable business climate for investors, the ease of doing business reforms were also under way, he said.

He praised Morinaga Japan for investing Rs5.1 billion in setting up a manufacturing facility in collaboration with Imperial Chemical Industries (ICI) Pakistan, which would meet nutritional needs of domestic as well as regional markets.

“This investment will help in the diversification of Japanese investment in Pakistan and will encourage other Japanese companies to invest in the country,” Alvi stated. Morinaga Milk Industry was founded in 1917 as Nippon Rennyu, and re-organised as Morinaga Milk Industry in 1949.

Published in The Express Tribune, September 20^th, 2019.

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