Pakistan has adopted a very liberal and investment-friendly policy, which is free from restrictions on remitting capital, profits & dividends, said President Dr. Arif Alvi, while talking to President, Morinaga Milk Industry Co. Limited, Japan, Mr. Michio Miyahara, who called on him at the Aiwan-e-Sadr, Islamabad on Thursday. He appreciated Morinaga Japan for its investment of PKR 5.1 billion by setting up a manufacturing facility in collaboration ICI Pakistan to meet the nutritional needs of local as well as regional markets. The President said that this investment by Morinaga in Pakistan would help in diversifying Japanese Investment and would encourage other Japanese Companies to invest in Pakistan. He underlined that the Investment Policy of Pakistan had been designed to provide a comprehensive framework for creating conducive business environment for the attraction of Foreign Direct Investment (FDI). He also highlighted that in order to ensure favorable business climate for investors, Ease of Doing Business Reforms were also underway. Morinaga Milk Industry Co., Ltd. was founded in 1917 as Nippon Rennyu Co., Ltd which was reorganized as Morinaga Milk Industry Co., Ltd in 1949 and has its head office in Tokyo, Japan. The company employs over 3,000 people and has a capital of 21,704 million yen (190 million US Dollar). The major business includes the production and sale of milk, dairy-based beverages, yogurt, desserts, condensed milk, powdered milk, butter, cheese, ice cream and non-dairy beverages (juice, tea, coffee. At present Morinaga have joint ventures and subsidiaries in China, Germany, Holland, Indonesia, Singapore and U.S.A.
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