The government would provide all possible facilities to foreign investors and Charoen Pokphand Group of Thailand would be facilitated to launch business activities in any part of the country. This was stated by Federal Minister for Food, Agriculture and Livestock (Minfal), Mir Israrullah Zehri during a meeting with a delegation of Charoen Pokphand Group, who called on the minister here on Thursday.
The delegation was led by Adirek Sripratak, President and Chief Executive Officer (CEO) of the group. Adirek Sripratak said that CP Group, a combination of ten companies, with an annual business turns over of $7 billion in food sector is eager to bring investment into Pakistan. "We are committed to launch business in Pakistan as soon as possible. Establishment of the company's business in Pakistan will mutually benefit both the countries. Our business philosophy is based on mutual benefits and transferring our mechanical and technical know how to the host country", expressed the CEO.
The minister suggested the delegation to initiate a joint venture in collaboration with Pakistan Agriculture Research Council (PARC) in Islamabad for food processing especially fish processing and value addition to agriculture/dairy products.
The minister said that Pakistan's agriculture and livestock sectors have huge potential for foreign investment and assured the leading Thailand's corporation, Charoen Pokphand Group (CP) of the maximum support of the ministry and the federal government to enable the company to launch business activities in any part of the country. CP had initiated exploratory meetings with Pakistan in 2005, and had already singed an Memorandum of Understanding (MoU) with Pakistan to start operations in Pakistan. The corporation is mainly interested in Punjab province to invest in poultry farms. The minister said that the company has agreed to transfer technology of different hybrid seeds to Pakistan once it started operations in Pakistan.
Zehri assured the visiting delegation that he would personally take up the issue to the Prime Minister and the president so that the company could start its operation in Pakistan as early as possible. The minister expressed that the entry of CP Group in Pakistan will have a very positive effect on the credibility of Pakistan, as investment friendly country.
"Investment by your company will further enhance the friendly relationship between the two countries. We are in the process of developing our seed industry and CP's role in the promotion of rice and cotton hybrid seed would be extremely beneficial. We fully assure you of our maximum support and facilitation for establishing business avenues in any part of the country you like", the minister added.
Zehri maintained that Pakistan has huge potential for foreign investment in food processing, poultry, animal/chicken feed, fish processing, seed and livestock production. He said that CP Group might interact with provincial government of Punjab, Sindh. KPK and Balochistan for joint ventures so that the expertises of CP are localised.
The delegates included Boonkiat Cheewatragoongit, Senior Vice President, Nutthakrit Sivasri, Vice Chairman, Sohail Mehmood Ambassador of Pakistan to Thailand and Marut Jitpatima, Ambassador of Thailand to Pakistan. The meeting was also attended by Secretary Minfa Shafqat Hussain Naghmi, Additional Secretary Hizar Hayat Khan, Chairman PARC Dr Muhammad Afzal and other senior officials of the ministry.
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