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Glaxo Smith Kline (GSK) Biological, Belgium is investing Rs.700 million for
expanding the existing four plants manufacturing base in Pakistan. Mr. Stefan
Vranckx of GSK Belgium while leading a 12 member delegation stated this during
a meeting with Mr. Zahid Hamid Federal Minister for Privatisation & Investment
here today.
Mr. Stefan said that their group intended to invest in the field of vaccine
production in Pakistan on Private Partnership basis stating that Pakistan has
quite big market for the product. Our group was also studying the potential of
investing in dairy, gem and jewelry, he added.
Mr. Zahid Hamid briefed the delegation regarding the privatisation and
investment policies and informed that there were numerous opportunities in
Pharmaceutical sector in Pakistan. All sectors of economy were open for
investment with 100 % foreign equity and repatriation of profit etc without
any permission, he said.
The Minister assured all assistance and support to Belgian investors and
presented improving macro economic indicators and the increasing FDI flow.
GSK is one of the world's leading vaccine manufacturers. They are discovering
new vaccines and developing more cost & convenient combination products to
convenient combination products to prevent infections that cause serious
medical problems worldwide now, they are looking for investment avenues
in Pakistan. GSK are the largest exporters of pharmaceuticals from Pakistan.
Glaxo has created 4000 jobs.