PR No.225 COCA COLA WILL INVEST US$ 200 MILLION IN PAKISTAN ON ESTABLISHMENT OF NEW BEVERAGE PLANTS AT FAISALABAD AND ISLAMABAD AREAS. Islamabad: January 25, 2017
Mr. Atilla Yerlikaya, GM, Group Director Public Affairs and Chairman of Pakistan-Turkey Business Council, Coca Cola Beverages Pakistan Limited along with 3-member delegation visited Board of Investment and met with MOS/Chairman, Board of Investment to discuss different investment opportunities available in Pakistan. The MOS/Chairman, BOI welcomed the Coca-Cola delegation and informed them that Pakistan has one of the most liberal foreign investment regimes in South Asia. 100% foreign equity is permitted in the manufacturing and infrastructure sectors of the economy as the country has a more market-oriented economy, with rapidly growing private sector in Pakistan.
Mr. Atilla Yerlikaya, GM, Coca-Cola Company thanked BOI for cooperation and facilitation and informed about the company’s future investment plans for establishing of two new plants at Faisalabad and Islamabad. The Company has already invested 500 million US$ during this year on the up-gradation of the existing plants in the country. He added that Coca-Cola is a leading US investor in Pakistan. M/s. Coca-Cola is presently contemplating a further US$ 200 million of green field investment, and expand Coca-Cola’s production and distribution capacity in Pakistan. He further informed that Coca-Cola intends preferably to establish their units at Special Economic Zones (SEZ) in Pakistan.
Mr. Atilla Yerlikaya, has also requested BOI for support on rationalization of tax regime in Pakistan and to curb the infringement, as some groups are violating industrial property rights and this practice is not only defaming original brands and reducing the revenue of Pakistan. Government of Pakistan may ensure operation of legitimate companies and take steps to provide level playing field to genuine investors
Dr. Miftah Ismail, MOS/Chairman, BOI said that BOI will extend full support to M/s. Coca Cola and advised them to establish their one unit at Faisalabad in SEZ, M.III, which were agreed by M/s. Coca Cola. The MOS/Chairman, BOI also assured them to assist for their second unit at SEZ, Islamabad as and when finalized.
At the end Dr. Miftah Ismail thanked Mr. Atilla Yerlikaya & his delegation and appreciated their efforts and intention with regard to boost new investment and economic relations between the two friendly countries.