Japanese Ambassador to Pakistan Hiroshi Oe on Thursday said that a number of 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. He 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. Hiroshi Oe also stated that Japanese government 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 developments and investment opportunities in various fields as a 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. He said that Embassy in Pakistan is ready to grant visas to genuine businessmen who fulfil 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 the two countries.
He 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, co-operation 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. He 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 and wind energy.