ISLAMABAD – Since 2006, there have been reports that Renault is coming toPakistan and now after 12 years, it is finally happening in part thanks tothe Auto Development Policy (ADP) 2016-21 after the company, in partnershipwith Al-Futtaim Automotive Pakistan (Pvt) Ltd., availed the GreenfieldStatus.
This will allow the company to establish assembly units while the ADP willprovide incentive-based growth opportunity.
Pascal Allizard, a French Senator confirmed this while addressing a pressconference in Islamabad. He stated that Renault was keen to manufacturecars here and further said other businesses are excited to invest invarious sectors of the economy.
The Senator is a member of a French delegation on a visit to Pakistan. Theywere briefed by members of Board of Investment (BoI) and have agreed towork together in various sectors. The Senator also remarked that Europe,including France, was strongly interested in China-Pakistan EconomicCorridor (CPEC).
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While the company had signed an MoU with UAE’s Majid Al Futtaim—an Emiraticompany – in 2017 to establish a manufacturing plant. However, work hasbeen slow; Renault has bought land at M-3 Industrial area in Faisalabad’sspecial economic zone in June 2018, but work on it is yet to begin.
