PM Shehbaz welcomes continuous Japanese support

Prime Minister Shehbaz Sharif appreciated on Monday the support extended by Japanese enterprises to Pakistan and pointed out that the nation had aided Pakistan with a cumulative assistance of $13 billion over the past seven decades, reported Aaj News.

“Japan is among the largest donors for Pakistan and it offers aid without any political strings,” he said in a meeting with a Japanese business delegation.

Up till the 1990s, Japanese companies in Pakistan recorded mushroom growth and even today, “they are quite visible in many cities of Pakistan.”

Shehbaz pointed out that Japanese businessmen were setting up textiles and automobile units in Pakistan.

“Moreover, a huge number of Japanese trade delegations are visiting Pakistan and local businessmen are also visiting Tokyo,” he said. “Nation rebuilding efforts of Japan after the World War 2 are unparalleled in history and its commitment to high quality and hard work should be emulated in Pakistan.”

PM Shehbaz highlighted that a few years ago, Japan devalued its yen which prompted him to reach out to the Japanese side and renegotiate the development schemes in Punjab. “I was looking forward to Japan passing on windfall gains to the provincial government”.

Japanese investment firm looks to become active in Pakistan

While the government of Japan did not renegotiate the deals, it gave a cheque of $400 million to the government of Punjab, he said.

Last year, Japanese firm Bold Investment established its investment arm in Pakistan as it eyed promising companies amid rising growth and potential in the country’s tech space.

The firm concentrates on the tech sector and aids scaling up operations along with its investments and acquisitions

In March 2021 ITL Holdings Company acquired shares in Ogitsu Companies and 6 of its group companies in Japan.

The group said mergers and acquisitions remained an integral part of the business space, a model that most believed has not picked up in the country yet. The focus for acquisition and funding would remain on businesses established by committed entrepreneurs with a strong foundation, added the company.

Bold Investments’ entry provided entrepreneurs with a sustainable funding and exit solution, as Pakistan moves towards evolving its tech sector.

Bold Investment has invested in and acquired companies around the world in Japan, UK and Asia. Having entered Pakistan, the group seeks to be an active catalyst in the M&A market of Pakistan.