Japan to invest $100m in Pakistan’s auto sector

Toyota looks to start production of hybrid vehicles in country

ISLAMABAD:

Japan has planned to invest $100 million in the automobile sector for starting production of hybrid vehicles in Pakistan.

During a meeting between Adviser to Prime Minister on Commerce Abdul Razak Dawood and Japan Ambassador Kuninori Matsuda, both sides discussed the future plan to enhance bilateral cooperation between the two countries.

The Japanese ambassador announced that Toyota Corporation of Japan would invest about $100 million in producing and exporting hybrid vehicles from Pakistan, according to a press release issued by the Ministry of Commerce.

He also invited the commerce adviser to visit Japan which Dawood accepted. In the meeting, matters relating to bilateral cooperation and organising economic forums were also discussed.

The possibilities of assistance by Japan for up-gradation of the focus areas of infrastructure and facilities for various sectors like fisheries, salt and food processing also came under discussion.

Dawood said, “Pakistan is moving in the right direction. We are now focusing on industrialisation, enhancement of our productivity and keeping up with the latest technology by upgrading our infrastructure with Japan’s assistance.”

Published in The Express Tribune, September 23^rd, 2021.

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