Considering the pace at which industries in Pakistan are growing, it shouldn’t come as a surprise that Coca-Cola Company is planning to invest $200 million in Pakistan to set up beverage plants in Islamabad and Faisalabad.
General Manager of Coca-Cola Company, Atilla Yerlikaya announced the company’s plans of further investment in the country, during a meeting with the Board of Investment’s (BoI) Chairman Dr. Miftah Ismail on Wednesday.
“Coca-Cola is presently contemplating a further $200 million of green field investment, and expand Coca-Cola’s production and distribution capacity in Pakistan,” said Atilla Yerlikaya.
Dr. Miftah Ismail welcomed the delegation of the company and also briefed them that Pakistan is one of the most liberal foreign investment regimes in South Asia.
It is worth mentioning that the company has already made an investment of approximately $500 million in a bid to upgrade its existing beverage plants in the country. The company intends to set up their new units at Special Economic Zones (SEZ) in Faisalabad and Islamabad.
The news came as a sliver of hope for the investors, as many analysts believe that the recent investment made by Coca-Cola will help in changing the perception of other foreign companies about investing in Pakistan.
Yerlikaya also requested the BoI for support on rationalization of tax regime in Pakistan and to curb the infringement, as some companies are breaching industrial property rights, a practice that not only defames original brands but also reduces the government’s revenue. “The government of Pakistan may ensure operation of legitimate companies and take steps to provide level playing field to genuine investors,” Yerlikaya said.