2017 Nissan Micra - PRODUCTION
French Renault car assembly deployed to Pakistan in 2018.
ISLAMABAD French automaker Renault SA is looking from automotive assembly to Pakistan in 2018 that the country is back on the radar of foreign investors looking to tap into a market more and more consumers in the middle class.
Renault has decided to invest in Pakistan They will start assembling cars in Pakistan by 2018, a government statement Thursday.
Finance Minister Ishaq Dar alongwith Miftah Ismail Chairman of the Investment Board visited France and met with senior Renault executives during holiday Eid-ul-Azha and following efforts and persuasion of the Minister of Finance, Renault decided to invest in Pakistan.
This is another feather in the cap of the economic policy and vision of Prime Minister Nawaz Sharif, the statement added.
A Renault spokesman in Paris confirmed to Reuters that the company has entered into exclusive negotiations with Ghandhara and groups Al Futtaim Dubai-based to develop the Renault brand in Pakistan, including a manufacturing plant on the site Gandhara in Karachi.
Analysts recently approved auto policy, biased in favor of new entrants, including offering lower foreign automakers rights as an incentive to implement lured French auto giant plants existing automotive sector of Pakistan monopolies by three Japanese automakers.
The Government approved the policy in March of automotive development 2016-21 after about three years behind policy encourages new producers to enter the market while promoting the latest technologies.
The communiqué of the Cabinet Economic Coordination Committee headed by the Minister of Finance Dar established a committee to examine the auto policy and recommended further expansion measures, investment and consumer protection in the sector.
The committee was headed by Muhammad Asif Khawaja, minister of water and power, and its members included Ismail.
The committee held several meetings and interacted with all stakeholders and came up with a new series of measures to attract Greenfield investments and revive the auto shut units existing in the country, the statement of the side project of engineering of the policy was prepared by the Board of engineering development while Ismail prepared a financial part of the policy.
Ismail made a number of meetings with foreign investors to attract investment in the auto sector He also met with industry stakeholders in Pakistan and also visited abroad to attract foreign companies in the automotive sector.
He met with foreign companies such as Volkswagen, Peugeot, Renault, Fiat and Nissan, the statement said.
the industry officials said European car manufacturer Volkswagen, and some Chinese investors have shown interest to start manufacturing in Pakistan.
Renault is in an alliance with Japanese automaker Nissan Alliance since 1999, Renault 43 4 percent of Nissan shares, and Nissan a 15 percent Renault The Renault-Nissan Alliance's number four car maker in the world.
In 2013, the Renault-Nissan Alliance sold March 8 million vehicles in more than 200 countries, equivalent to more than one in ten vehicles sold worldwide.
French Renault car assembly deployed to Pakistan in 2018 Business, French, Renault, roller.