Governor Punjab Chaudhry Mohammad Sarwar has inaugurated a state-of-the-art manufacturing plant in Nestlé Pakistan’s Sheikhupura factory. The company invested $22 million in the Nestlé Fruita Vitals Plant with a production capacity of 24,000 units per hour.
While speaking at the occasion, Chaudhry Mohammad Sarwar said that the government’s aim is to create conditions in which foreign companies are attracted towards making new investments. At present, the government is making concerted efforts to revive the nation’s economy. He was really pleased to see that Nestlé, one of the world’s leading food and beverage companies, is making such good progress in Pakistan. Their investment demonstrates and speaks volumes about Nestlé’s trust in the future of Pakistan, he added.
Samer Chedid, Chief Executive Officer, Nestlé Pakistan, while sharing his views said,
Nestlé’s recent investment is a testament to our continuous trust in Pakistan and its growth potential. We appreciate the government’s steps as a result of which Pakistan has been listed by the World Bank as among the ‘Top-20 Improvers in Ease of Doing Business 2020′.
This is a clear reflection of the government’s commitment to improving competitiveness by increasing support for the development of the private sector, reducing the regulatory and administrative burden on enterprises,” he said.
The country’s government announced last year that PepsiCo will spend $1.2 billion and Coca-Cola will invest $200 million in the country.
In January, Cargill said it would invest $200 million in Pakistan in the next three-to-five years. The company’s strategy includes expansion across its agricultural trading and supply chain, edible oils, dairy, meat and animal feed businesses.