21 °C Prince George's County, US
April 12, 2021

Fiat Looking at Pakistan as Possible Investment Destination

Italian car manufacturer Fiat was looking at Pakistan as a possible investment destination, Italy’s new envoy for Pakistan Ambassador Stefano Pontecoryo said.

At a meeting with Pakistan’s Finance Minister Ishaq Dar in Islamabad on Dec. 10, the ambassador said that Pakistan not only provided lower labour cost but also could be a hub for Fiat exports to a wide region extending from China in the east to Lebanon in the west and including entire central Asia, a statement from the Finance Ministry said.

Italy is seeking to boost its commercial ties with Pakistan and plans to reopen its Trade Commission in Karachi and reinforce its Trade Office at the embassy in Islamabad to also cover the industrial city of Sialkot and Lahore. Italy’s Trade Commissioner is due to visit Pakistan next week for discussions on business and trade.

A delegation of Italian businessmen would visit Pakistan early next year to establish contacts with the business community in the South Asian country.

“Transport, agricultural machinery, frozen food, furniture making, marble industry, textile, leather and energy sector would be our main areas of interest” said the Italian envoy.

Finance Minister Dar noted the untapped business potential between the two countries and offered to hold “Investment Promotion Conference” to make information available to the potential Italian investors.

Related articles

Pakistan Gets $501 Million From IMF Under 3-year Loan

The International Monetary Fund has approved the immediate release of $501 million to Pakistan under a 3-year Extended Fund Facility, lauding the government’s efforts for fiscal consolidation and widen the tax net. The Executive Board of the Fund met in Washington on June 27 and accorded approval to the 11the review of Pakistan’s economic performance. […]

Pakistan’s Booming Real-estate Sector Showing Investors’ Confidence

Investors’ confidence in Pakistan’s economy seems to be on an upward trajectory as reflected by the country’s booming real estate sector which is showing double-digit return on investment in metropolitan areas, a report says quoting Zameen.com’s annual property review. In the backdrop of compressed commodity prices and with local stock market offering low returns, the […]