Nestle announces $60 million investment in Pakistan

ISLAMABAD: Multinational Nestlé announces “additional investment” in Pakistan at the World Economic Forum (WEF) Business Roundtable in Davos, Switzerland, said the Finance Ministry in a statement on its social X on Thursday.

The Federal Minister for Finance and Revenue Muhammad Aurangzeb chaired a high-level Business Roundtable on the sidelines of the World Economic Forum Annual Meeting in Davos, bringing together Chief Executive Officers and senior leaders of leading global corporations to discuss the country’s “reform trajectory, investment climate, and long-term growth potential,” said the statement.

“The roundtable formed part of the Government of Pakistan’s ongoing engagement with multinational investors to promote policy predictability, economic formalization, and sustainable, export-oriented growth,” said the statement.

During the meeting, Executive Vice President and Chief Executive Officer for Asia, Oceania, and Africa at Nestlé Remy Ejel announced an additional investment of “USD 60 million in Pakistan,” said the statement.

Ejel stated that Nestlé will undertake “a robust expansion of its operations” in the country, reaffirming its long-term commitment to Pakistan, as per the statement.

It announced that Nestlé intends to “use Pakistan as a regional manufacturing and export hub,” exporting products to 26 countries from Pakistan, foreseeing robust growth in Nestlé’s business in Pakistan in the coming years, added the statement. 

The announcement rests on the company strategy centering on localization, advanced manufacturing, sustainability, and agricultural transformation, it added. 

Ejel noted that Pakistan’s demographic profile, growing nutrition needs, and underpenetrated value-added food segments closely mirror “successful growth trajectories seen in Southeast Asia,” said the statement.

Finance Minister Muhammad Aurangzeb described it as a “strong vote of confidence” in Pakistan’s economic reforms and formalization drive, added the statement.

“The Finance Minister emphasized that Pakistan offers compelling opportunities in affordable nutrition, climate-resilient dairy, localized sourcing, and export-oriented manufacturing, and reiterated the government’s resolve to position Pakistan as a competitive base for regional production and global value chains,” it added.