Dr. Joseph Baumert, Member Volkswagen Board of Management, today called on Prime Minister Shahid Khaqan Abbasi at the Prime Minister’s Office.
Mr. Andreas Sprindler, Head of Overseas Production, Mr. Oliver Glaser, Head of Asia Pacific, Mr. Klaus – Bo Steindorff, International Policy Foreign and Governmental Relations and Mr. Yuri Konushin, Head of CKD, Syed Arshad, CEO Premier Systems Pvt Ltd., accompanied Mr. Joseph Baumert. Secretary Board of Investment was also present during the meeting.
The Prime Minister welcomed the decision of Volkswagen to invest and undertake business venture in Pakistan and assured all possible facilitation and support to the company.
Highlighting the strengths of Pakistan economy, the Prime Minister observed that investor-friendly policies of the present government, the economic turnaround achieved in the last four years and improved security situation, offered the international business community huge incentives to invest and reap the benefits from a fast growing economy.
He said that with its low motorization rate in the region and an enhanced road networks—especially in wake of CPEC project and greater spending on communication infrastructure, Pakistan offered great opportunities to the international automobile companies to fill in the existing demand-supply gap through local production.
The Prime Minister also highlighted various features of the Auto Policy (2016-2021) that offers tax incentives and greater incentives to the new entrants in order to enable the introduction of new brands, develop market shares, create distribution and aftersales service networks and develop part-manufacturer base.
The Prime Minister expressed the hope that Volkswagen’s production in the country would add quality vehicles at international standards. Dr. Joseph Baumert thanked the Prime Minister for meeting his delegation. He expressed the hope for a successful business venture in Pakistan.