ISLAMABAD: Global food and beverage company Nestlé has announced it would invest $60 million in Pakistan and expand its operations in the country, Pakistan’s Finance Division said in a statement on Thursday.
The development took place in Davos at the sidelines of the World Economic Forum summit in Davos. Finance Minister Muhammad Aurangzeb chaired a high-level Business Roundtable featuring various chief executive officers and senior leaders of global corporations to discuss Pakistan’s reform trajectory, investment climate and growth potential.
“A major highlight of the discussion was the announcement by Mr. Remy Ejel, Executive Vice President and Chief Executive Officer for Asia, Oceania, and Africa at Nestlé, of an additional investment of USD 60 million in Pakistan,” the Finance Division said.
“Mr. Ejel stated that Nestlé will undertake a robust expansion of its operations in the country, reaffirming its long-term commitment to Pakistan.”
Ejel further announced that Nestlé intends to use Pakistan as a regional manufacturing and export hub, exporting products to 26 countries from here, the statement said.
