Japan has shown its deep concern about the security issues in Pakistan and demanded of the government to take concrete steps for the safety of their investors. The message has been conveyed to Chairman Board of Investment Saleem H Mandviwalla by Hiroshi Oe Ambassador of Japan who called on Chairman BOI on Wednesday.
Apart from showing security concerns, Hiroshi Oe said that bilateral relations between Pakistan and Japan are based on commonality of interests and aspiration for peace and development, especially for the region, which Japan also regards as pivotal for peace and stability in Asia.
Chairman, BOI informed the ambassador that Yamaha is investing $150 million in the automobile sector in Pakistan. A special incentive plan is devised to promote the advanced motorbike industry for the bourgeois. The motorbikes would be fuel efficient and economical for more than 200 million users. In progress to the project, he said that the land has already been allocated to Yamaha in Karachi (Port Qasim).
Chairman BOI also informed the ambassador that BOI proposes to establish a new Japan Specific Special Economic Zone with broad features like: in Sindh one (1) million acres of Government land is available for the proposed SEZ. The location advantage for industries in the proposed area and vicinity is the direct access of Port Qasim enabling raw material import and finished goods export without incurring major inland transportation costs and saving time and vicinity to the water reservoir is also included in the SEZ plan.
He further added that Japan's economic assistance has played a very important role in the development of Pakistan's economic and social infrastructure. The major projects, which have been funded by the Government of Japan, include the Indus Highway Project, a number of power projects in various provinces of Pakistan, Rural Roads Construction Project and the Children Hospital PIMS Islamabad Project. Presently the Kohat Tunnel Project and the Ghazi Brotha Dam Project are being completed with the help of the Japanese assistance.