Nestle announced on Thursday announced that it would invest an additional $60 million in Pakistan and would also “undertake a robust expansion of its operations in the country”.
The development came as Finance Minister Muhammad Aurangzeb met Remy Ejel, the executive vice president and chief executive officer for Asia, Oceania, and Africa at Nestle, on the sidelines of the World Economic Forum (WEF) in Davos, according to a statement issued by the finance ministry.
According to the ministry, Aurangzeb chaired a high-level business roundtable on the sidelines of the WEF, bringing together chief executive officers and senior leaders of leading global corporations to discuss Pakistan’s reform trajectory, investment climate, and long-term growth potential.
“The roundtable formed part of the government of Pakistan’s ongoing engagement with multinational investors to promote policy predictability, economic formalisation, and sustainable, export-oriented growth,” it said.
“A major highlight of the discussion was the announcement by Ejel … of an additional investment of $60 million in Pakistan. Ejel stated that Nestle will undertake a robust expansion of its operations in the country, reaffirming its long-term commitment to Pakistan,” the statement said.
“He further announced that Nestle intends to use Pakistan as a regional manufacturing and export hub, exporting products to 26 countries from Pakistan. Expressing strong confidence in Pakistan’s economic outlook, Ejel foresaw robust growth in Nestlé’s business in Pakistan in the coming years,” the statement said.
