Prime Minister Imran Khan met executives from Coca-Co and PepsiCo; as per an announcement by the Government of Pakistan, the two major beverage companies will be investing $1.4bn in Pakistan over the next five years.
Mike Spanos, PepsiCo’s Asia, Middle East and North Africa CEO, headed the delegation that visited Pakistan to pledge making further investment of $1.2bn in the next five years.
Coca-Cola has already invested over $500m in Pakistan over the past five years and is now willing to invest an additional $200m in the next two to three years.
Coca-Cola’s representative said “The investment will create new jobs, support ancillary industries, and help the government earn incremental revenue through taxes as the business grows further.”
Prime Minister Imran Khan said: “The present government is committed to facilitating businesses and investors in every possible manner to take advantage of the existing opportunities in the country, which has a population of over 100 million below the age of 30 years.”
Coca-Cola’s delegation took the opportunity to discuss matters that are hampering industry growth such as tax issues and the black economy.
In a statement, the Government added, “the delegation expressed confidence in the current government and hoped that Coca-Cola’s investment will encourage other international companies to invest in Pakistan.”
PepsiCo’s delegation also voiced that they have absolute confidence in the business-friendly investment policies of the present government.
In the same vein, Pakistan is set to become a hub for investment by Spanish Superstore Condis and a six member delegation recently visited the country to explore the investment landscape.