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PM Abbasi welcomes Volkswagen’s entry into Pakistan

PM Abbasi welcomes Volkswagen’s entry into Pakistan

PM hoped Volkswagen will provide good quality vehicles to the Pakistani customers

Pakistan is having great opportunities to the international automobile companies to fill in the existing demand-supply gap through local production.

Prime Minister Shahid Khaqan Abbasi has welcomed the newly entered company “Volkswagen” in the country and ensured that full support and facilities will be given to the auto company after Volkswagen has decided to invest and start business ventures in Pakistan.

While talking to Dr. Joseph Baumert, Member Volkswagen Board of Management, The Prime Minister of Pakistan told him about Pakistan’s economy, its strength, last four years improvement and development projects and incentives to invest in the rapidly growing economy of Pakistan.

The Prime Minister also highlighted to Dr. Joseph Baumert about the key features of Auto Policy (2016-2021) that offers tax incentives and greater incentives to the new entrants in order to enable the introduction of new brands, develop market shares, create distribution and after sales service networks and develop part-manufacturer base.

In the past year, Lucky has announced a joint venture with Kia Motors, while Hyundai Motor Company also plans to set up a car assembly plant with textile group Nishat Mills.

He further said due to improved and enhanced road networks as a result of the China-Pakistan Economic Corridor (CPEC) project and greater spending on communication infrastructure we are now offers great opportunities to international automobile companies.

Dr. Joseph Baumert said that the economic situation of Pakistan is better and investors have a keen eye on the economic and security situation of Pakistan. New plants for manufacturing and distribution are expected to start operations soon.

The other members who attended the meeting are Head of Overseas Production Andreas Sprindler, Head of Asia Pacific Oliver Glaser, International Policy Foreign and Governmental Relations Klaus – Bo Steindorff and Head of CKD Yuri Konushin, CEO Premier Systems Pvt Ltd. Syed Arshad and Secretary Board of Investment were also present.

About Saqlain Naqvi

Saqlain Naqvi is an Islamabad-based journalist who has also worked in PR sector previously.
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