Pakistan is getting lucrative market for the multinational companies with the growing population of consumers and rising living standards of the people, Managing Director for the Middle East and Africa region Hiroki Soejima said here on Thursday. Speaking at the press briefing at a local hotel, he said he was optimistic and excited over the economic development in Pakistan and hoped that "our business will also set to flourish in line with the futuristic progress."
While responding to a question on the development of China Pakistan Economic Corridor (CPEC) project, he said CPEC was a great opportunity and Panasonic would work on to take benefits out of it, adding the company was looking investment opportunities in various sectors including housing. "Panasonic recognizes Pakistan's increased potential as a market for growth, as it continues to see increasing urbanization, and more people with surging purchasing power.
"Panasonic not only produces electronics and consumers goods and home appliances but also manufacturers enterprises solutions for meeting the needs of commercial operations and business operations, hence we are looking for growth in this direction."
Soejima said the share of Panasonic was set to increase from single digit to double digit in the future including all of its segments. "Panasonic, with its local partners, who understand the lifestyle of Pakistan consumers, will continue to offer right products that would add value to the customers' life through convenience and true Japanese quality."
Expressing Panasonic's positive outlook for the market, Junichiro Kitagawa, Vice President, Appliances Company & Director, Consumer Marketing Division - Panasonic Corporation, Japan said, "As a customer-centric company, Panasonic plans to boost Pakistan's consumer confidence, by not just selling products, but as a premium lifestyle Japanese brand through innovation across products and solutions offered by us."
He said the convention also became an ideal platform to emphasis product innovation for Panasonic's product management team. The presentations focused on the existing and the new line-up of products by Panasonic that meet the local market demands. Aside from unveiling the latest OLED TV, Jetstream air conditioners, and 'IT Twist Stick' Vacuum cleaner in Pakistan, PMMAF felicitated dealers for sales target achievement in FY16, he added. The same day a dealer convention was also arranged by the Panasonic where the dealers were able to witness new solutions that will be introduced to the market in the coming months.