Islamabad: Japanese company Yamaha is investing $150 million in Pakistan’s automobile sector, says Chairman Board of Investment (BoI) Saleem H. Mandviwalla.
BoI proposes to establish a new Japan Specific Special Economic Zone with broad features. In Sindh one million acres Government land for proposed SEZ has already been allocated to Yamaha at Port Qasim in Karachi, he told Hiroshi Oe, Ambassador of Japan here Wednesday.
He said a special incentive plan is devised to promote advanced motorbike industry. These motorbikes will be fuel efficient, economical for more than 200 million users.”
Hiroshi expressed deep concern on security issues for investors in Pakistan. He said relations between Pakistan, Japan are based on commonality of interests, aspiration for peace, development especially for our region, which Japan also regards as pivotal for peace and stability in Asia.
Mandviwalla said location advantage for industries in proposed areas is direct access of Port Qasim enabling raw material import, finished goods export without incurring inland transportation cost, saving time, vicinity to water reservoir is included in SEZ plan.