Italian companies show interest in auto sector

Italian companies show interest in auto sector

ISLAMABAD: Following the recently announced auto policy, Italian automotive companies have shown interest in exploring investment opportunities in Pakistan.

Senior executives of Italian companies held a meeting with Finance Minister Ishaq Dar on Thursday.

The Italian delegation, led by Director General of Ministry of Foreign Affairs Carlo Formosa, said Italy wants to see resurgence of its brands in Pakistan.

Mr Dar asked the Italian businessmen to explore special economic zones which offered multi-business opportunities.

The Italian delegation included representatives of Bellilli Engineering, Electtronica, ENI, CNH, Finmeccanica, ICE, Mpaei, Beretta and SACE. The delegation later discussed investment opportunities with Board of Investment Chairman Miftah Ismail.

Zeeshan Yousaf from CNH said the company wants to introduce combine harvesters in Pakistan.

Moreover, the company wants to repower the truck fleet in Pakistan with its new Fiat technology in which they would provide technical expertise in locally assembled plant, he added.

Giorgio Guidi from ENI said they want to invest in alternative energy in Pakistan, while Valdez Lisbi from Automotive Trains Unit of SACE said the company can provide financial assistance and bank guarantees on behalf of the Italian companies.

Secretary Industries Khizar Hayat said Italy should look into the large export processing zone in Gwadar which offers great opportunities for foreign investors.

The Italian delegation also held a meeting with Minister for National Food Security and Research, Sikandar Hayat Khan Bosan.

The minister invited Italian investors to establish post-harvest processing units for pest mitigation and phytosanitation as well as investment in farm mechanisation and value-addition.

Source: http://www.dawn.com/news/1253585/italian-companies-show-interest-in-auto-sector

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