QUETTA: Japanese Consul General Akira Ouchi has suggested that in order to encourage investment from Japanese entrepreneurs Pakistan should build proper infrastructure and improve electricity production.
“A business mission of six Japanese companies visited Pakistan recently while 12 representatives of Pakistani companies went on a trip to Japan to seek opportunities for expanding bilateral trade,” he said while talking to members of the Quetta Chamber of Commerce and Industry.
“These endeavours are aimed at stimulating investment from Japan, but in order to attract new capital flows, the law and order situation, infrastructure such as electricity, water and roads must be improved while economic policies should also be consistent to woo foreign investors.”
The Japanese envoy said Balochistan had great potential for economic growth and had a lot of natural resources such as gold, copper, zinc and natural gas. “Effective utilisation of these natural resources is essential for future development,” he said.
Talking about trade between Japan and Pakistan, Ouchi said in 2013-14 the total volume was $1.6 billion. Exports from Pakistan were about $0.2 billion and imports from Japan were $1.4 billion.
About 78 Japanese companies are operating in Pakistan, of which 51 are in Karachi. Their areas of investment in Karachi are automobile plants, steel mills, pharmaceutical firms and zippers. Japan has extended development assistance to Balochistan in a host of areas such as infrastructure, education, health and agriculture.
Ouchi stressed that Pakistan was a country with great potential for economic growth. “There is a large market in Pakistan as it is very near to the Middle East.”
In addition to the huge manpower, natural resources such as copper, coal and natural gas were available, especially in Balochistan, he said.
Published in The Express Tribune, March 21st, 2015.
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