Lahore, November 22, 2012 (PPI-OT): Japanese Ambassador to Pakistan Hiroshi Oe on Thursday said that many big Japanese investors are seriously planning to make investment in Pakistan as they are facing problems because of strong workers union culture in India.
The Ambassador was speaking at the Lahore Chamber of Commerce and Industry. LCCI President Farooq Iftikhar highlighted the issues being faced by the businessmen while Senior Vice President Irfan Iqbal Sheikh, Vice President Mian Abuzar Shad, former Presidents Tariq Hameed, Iftikhar Ali Malik, Mian Misbahur Rehman, former Senior Vice President Abdul Basit, former Vice Presidents Aftab Ahmad Vohra and Shafqat Saeed Piracha also spoke on the occasion.
Hiroshi Oe said that the business environment in Pakistan is far better and it is a safer place as far as working conditions are concerned. The economy and infrastructure development are the priority areas and Japan government is focusing on them.
The Ambassador also stated that Japanese government has hosted investment seminars for Pakistan to further strengthen bilateral relations. “Japanese businessmen are being motivated for establishing business with their counterparts in Pakistan. He said Japan will continue to provide financial and technical assistance to Pakistan as we believe that this country has a great potential for the future.
There are spectacular development and investment opportunities in various fields as few countries are gifted with natural resources, the Ambassador said. “Pakistan is facing difficult challenges which will be over soon,” adding that he will continue to strive to deepen mutual understanding through economic, educational, cultural and political exchanges.
The Japanese Ambassador said that there are wide scopes of establishing joint ventures between business communities of the two countries. He said that negative perception is a problem for Pakistan and that it should be tackled on urgent basis. The Ambassador said that Embassy in Pakistan is ready to grant visas to genuine businessmen who fulfill all requirements and recommendation of Lahore Chamber of Commerce and Industry.
Speaking on the occasion, the LCCI President Farooq Iftikhar said that Japan is third biggest and one of the trillion dollar economies of the world and is an important trading partner of Pakistan as well as a major donor.
He said that availability of inadequate trade-related data is one of the hurdles in the way of expansion of trade between two countries. The LCCI President said that export potential of Pakistan is great which may be shared with Japanese businessmen and investors. Frequent exchange of sector-specific delegations can make the representatives of private sectors explore the opportunities of trade and investment in Pakistan.
Japan is an important player for peace, progress, cooperation and stability in the world and its role in assistance to developing countries and regions is laudable.” Farooq Iftikhar said that share of Japan in Foreign Direct Investment in Pakistan is very low despite the fact that the country has a unique standing in terms of its strategic location and countless investment opportunities.
The LCCI President said that there is huge scope in the field of power sector as Pakistan is in dire need of technologies in renewable/alternate energy, solar energy, wind energy etc. Organizations like Japan International Cooperation Agency (JICA) in social sector, Japan External Trade Organization (JETRO) in promotion of trade and investment have played great role in Pakistan but more assistance is needed in order to bring long term peace and prosperity in Pakistan.
Major exports of Pakistan to Japan consist of cotton yarn, petroleum oils, woven cotton fabric, vegetables, electro-medical apparatus, leather, leather garments, carpets and sports goods etc. The main imports from Japan are cars, vessels and other floating structures, products of iron, trucks, parts and accessories of motor vehicles, textile machinery and etc.
For more information, contact:
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854