By Muhammad Luqman
French ambassador in Pakistan, Mark Barety has said that the security situation in Pakistan has improved significantly and now more and more French companies will be willing to invest in this part of the world.
“ French car manufacturing company Renault is going to set up its assembly plant in Karachi within weeks or months,” he told media during his visit to Pakistan’s eastern city of Lahore.
French ambassador said that this was a good signal and added that this would encourage more French companies to invest in Pakistan.
With the entry of French automobile company , Pakistani market is all set to end the monopoly of the Japanese and Chinese four wheelers.
Renault, which was earlier also involved in talks with Ghandhara Nissan, will now be in partnership with the UAE-based conglomerate.
Dubai: Al-Futaim group will assemble and distribute France’s Renault car brand in Pakistan, marking a major push outside of the Middle East for one of the UAE’s leading family-owned enterprises. The assembling plant — in Karachi — could become operational as early as the first quarter of next year and with car sales to start in 2019. Full-scale ramp up production will start in 2020.
Al-Futtaim’s global automotive operations now extend to 11 markets across the Middle East, Africa and South Asia.