ISLAMABAD: President Dr Arif Alvi has said that Pakistan has adopted a very liberal and investment-friendly policy, which is free from restrictions on remitting capital, profits and dividends.
Talking to President of Morinaga Milk Industry Co. Limited, Japan, Michio Miyahara at the Aiwan-e-Sadr, on Thursday, he appreciated Morinaga Japan for its investment of 5.1 rupees billion by setting up a manufacturing facility in collaboration with ICI Pakistan to meet the nutritional needs of local as well as regional markets.
Morinaga Milk Industry was established as Nippon Rennyu Co., Ltd. in 1917 with the primary aim of manufacturing dairy products. The company merged with Morinaga & Co., Ltd and was then split off, taking its current form as Morinaga Milk Industry Co., Ltd. in 1949. Morinaga Milk Group celebrated its 100th anniversary in 2017.
The President said this investment would help in diversifying Japanese Investments and would encourage other Japanese Companies to invest in Pakistan.
He underlined that the Investment Policy of Pakistan had been designed to provide a comprehensive framework for creating conducive business environment for the attraction of Foreign Direct Investment.
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The President highlighted that in order to ensure favorable business climate for investors, Ease of Doing Business Reforms are also underway. (PPI)
