American multinational food, snack and beverage company PepsiCo is reportedly planning to invest $1bn in Pakistan.
Pakistan Minister for Information Fawad Chaudhry welcomed the company’s decision to invest.
PepsiCo senior vice-president Krista Pilot explained the companies plan during her meeting with Chaudhry in Dubai. According to local media reports, Pilot told the minister that the company intends to establish a potato unit in the city of Multan.
Additionally, Pilot also expressed the desire for the new unit to be inaugurated by the Pakistan Prime Minister Imran Khan.
It is expected that farmers who cultivate potatoes would benefit from the establishment of the potato unit in the Multan region. Chaudhry said that the unit will create employment opportunities in the country.
He further added that investments from multinational companies such as British Airways and PepsiCo would encourage other companies to invest in Pakistan.
The Pakistan Minister for Information also said that the government intends to collaborate with the US-based company in order to promote Pakistan’s diverse culture, music and tourism.
Last November, the Government of Pakistan announced that beverage majors PepsiCo and Coca-Cola will invest $1.4bn in the country over the next five years.
The statement came after executives from the two companies met with Khan.
Headed by the company’s Asia, Middle East and North Africa CEO Mike Spanos, PepsiCo delegation pledged to make a further investment of $1.2bn.
Coca-Cola, which has already invested more than $500m in the country in the past five years, agreed to invest an additional $200m in the next two to three years.
