German companies plan investment in Pakistan

29th April 2005, Comments 0 comments

29 April 2005, ISLAMABAD - Two German firms, retail giant Metro Group and communication specialists Rohde & Schwarz, are planning to invest USD 400 million (EUR 310 million) in Pakistan, reports said on Friday.

29 April 2005

ISLAMABAD - Two German firms, retail giant Metro Group and communication specialists Rohde & Schwarz, are planning to invest USD 400 million (EUR 310 million) in Pakistan, reports said on Friday.

Metro's chief operating officer for Asia-Pacific, Frans Willen Henri, told Prime Minister Shaukat Aziz in Islamabad that a recent survey showed the Pakistani market to be very attractive for investment, the official Associated Press of Pakistan (APP) said.

The report quoted Henri as saying Metro Group was planning to open retail outlets with an initial investment of USD 200 million (EUR 155 million) dollars.

Metro Group, which has 2,400 locations in 30 countries, is reportedly planning to set up four outlet stores in the major cities of Lahore and Karachi during phase one.

Metro's top officials toured Pakistan with German Chancellor Gerhard Schroeder in October 2004 to explore investment opportunities in the country of more than 150 million people.

Aziz assured the Metro Group of all possible assistance in establishing business in Pakistan.

Rohde & Schwarz said it would invest USD 200 million (EUR 155 million) annually in Pakistan's communication and information technology sector.

Company president Friedrich N. Schwarz told reporters Rohde & Schwarz would help digitalise communication in Pakistan and introduce an analogue-to-digital broadcasting system in collaboration with official regulator Pakistan Telecommunication Authority.

The company will also set up the first national frequency management and monitoring system for the country's Frequency Allocation Board (FAB).

DPA

Subject: German news

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