Cargill, the global agro giant, has pledged to invest more than US$200 million in the next three-to-five years in Pakistan.
According to Ministry of Commerce, the announcement was made soon after Cargill’s global executive team meeting with Prime Minister, Imran Khan, Advisor on Commerce, Textile, Industries & Production and Investment Abdul Razak Dawood, Parliamentary Secretary on Commerce Ms. Shandana Gulzar and other senior government officials to discuss the company’s future investment plans.
Being a global food and agriculture producer with a strong focus on Asia, Cargill aims to partner on Pakistan’s growth by bringing its global expertise and investment into the country.
The company’s strategy includes expansion across its agricultural trading and supply chain, edible oils, dairy, meat and animal feed businesses while ensuring safety and food trace ability.
Cargill will bring world class innovations to support the flourishing dairy industry in Pakistan, which is already moving toward modernization, as well as the rising demand for edible oils backed by evolving consumption patterns and a growing market for animal feed driven by sustained progress made by the poultry industry in Pakistan.
“We have received a very positive response from the Pakistani government and we value their support as we expand our presence here, helping industries, farmers and communities succeed,” said the country head, Cargill Pakistan.
Prime Minister Imran Khan informed the visiting delegation that Pakistan is following very liberal investment regime in the region with diverse and business friendly incentives. He said Pakistan is endowed with a wealth of resources, demographic potential, and an educated workforce. Prime Minister updated that concerted efforts are underway to further improve ease of doing businesses in the country.
Advisor to the Prime Minister on Commerce, Textile, Industry & Production Abdul Razak Dawood apprised the delegation about the recent initiatives of the current government to improve investment regime and business environment.
Dawood shared the business friendly vision of the government that is expected to make Pakistan an irresistible destination for investors.