Pakistan's Investment Policy Aimed At Attracting FDI: President Alvi
Sumaira FH Published September 19, 2019 | 02:18 PM
President Dr Arif Alvi on Thursday said the country's investment policy had been designed to provide a comprehensive framework for creating conducive business environment to attract Foreign Direct Investment
ISLAMABAD, (UrduPoint / Pakistan Point News - 19th Sep, 2019 ) :President Dr Arif Alvi on Thursday said the country's investment policy had been designed to provide a comprehensive framework for creating conducive business environment to attract Foreign Direct Investment.
Talking to President of Japan's renowned Morinaga Milk Industry Michio Miyahara here at the Aiwan-e-Sadr, the President said Pakistan had adopted a very liberal and investment-friendly policy, which was free from restrictions on remitting capital, profits and dividends.
The President said to ensure favorable business climate for investors, the Ease of Doing Business Reforms were also underway.
He lauded Morinaga Japan for its investment of Rs 5.1 billion by setting up a manufacturing facility in collaboration ICI Pakistan to meet the nutritional needs of local as well as regional markets.
The President said the investment would help diversification of Japanese investment and would encourage other Japanese companies to invest in Pakistan.
Morinaga Milk Industry Co. Ltd. was founded in 1917 as Nippon Rennyu Co., Ltd which was re-organized as Morinaga Milk Industry Co., Ltd in 1949 and has its head office in Tokyo, Japan.
The company employs over 3,000 people and has a capital of 21,704 million Yen (190 million US Dollar). The major business includes production and sale of milk, dairy-based beverages, yogurt, desserts, condensed milk, powdered milk,butter, cheese, ice cream and non-dairy beverages (juice, tea, coffee).
At present, Morinaga has joint ventures and subsidiaries in China, Germany, Holland, Indonesia, Singapore and USA.
Related Topics
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Pakistan
-
AJK-wide campaign begins to vanish black-tinted glasses to all sorts of vehicles
9 minutes ago -
Islamabad to be digitalized as pilot project under national digitalization plan: IT Minister
9 minutes ago -
HEC reviews curricula for environmental sciences degree programme
28 minutes ago -
Heavy rains cause damage to Spezand-Taftan railway track
34 minutes ago -
Documentary on life of Jamiluddin Aali screened at embassy
29 minutes ago -
"Sindh Theater Festival 2024" commences in Larkana
29 minutes ago
-
Blackmailer arrested after secret camera scandal in Mirpurkhas
29 minutes ago -
BMC a reputed medical institution for students in Pakistan: Secretary
29 minutes ago -
NDMA advisory alerts authorities, public amid Nowshera, Charsadda flood forecast
29 minutes ago -
DC orders ACs to visit any 5 villages in each tehsil
29 minutes ago -
Punjab govt to establish state-of-the-art cancer hospital: minister
29 minutes ago -
Holland ambassador meets Punjab CM
29 minutes ago