There are many international companies who have expressed their interest to invest in Pakistan. Hyundai Nishat has already conducted launch ceremony of its new plant in Pakistan after signing the contract with Pakistan Government to produce and sell cars in Pakistan. Similarly, Kia, Renault, Volkswagen are companies we will most likely see in Pakistan in 2018.
It seems that the entrance of new auto companies in Pakistan has attracted other investors to invest in Pakistan. Almost 500 Chinese auto companies have expressed their desire to invest in Pakistan.
A group of Chinese automakers visited Islamabad Chamber of Commerce and Industry (ICCI), Pakistan. They said that they want to establish auto plants in Pakistan. They insisted that they have been producing cars as per European standards and now they want to make an entry in Pakistan market.
It is pertinent to mention here that in the initial stages these automakers will collaborate with domestic auto companies to sell auto parts and vehicles. Then in the second stage, the companies will establish their plants in Pakistan.
The Chinese automaker delegation was also eager to share their experiences and expertise with the local investors.
President of ICCI appreciated the efforts and aim of the Chinese manufacturers and told them the reason they should invest in Pakistan. He explained that there is huge potential in Pakistan which can be utilized by foreign automakers. 90% of goods in Pakistan are transported via heavy-duty trucks thus there is a huge demand for these trucks and other similar vehicles in Pakistan. Also as CPEC is creating new routes, better development & transportation projects in Pakistan are starting thus it’s the perfect time for automakers to invest in the country.
Moreover, ICCI president asked the Chinese automakers to produce under 1000cc cars so that middle-class population of Pakistan can easily buy them.