The largest privately held corporation in the US in terms of revenue, Cargill is looking to expand its footprint Pakistan’s farm and bio-industry sectors
By Staff Reporter
KARACHI: The global food conglomerate Cargill, Inc., plans to enhance and diversify its investments in Pakistan in the fields of agriculture and bio industry, reports coming from the Embassy of Pakistan, Washington DC say.
Assurances to this effect came from Cargill Vice President Colin D’Silva and Director Betsy Bryant Struse in a meeting with Pakistan’s Ambassador to the US, Masood Khan.
Based in Minnesota and incorporated in Delaware, Cargill it is the largest privately held corporation in the US in terms of revenue. Founded in 1865, the company has already invested USD 200 million in Pakistan’s agriculture sector.
According to a statement issued by the Embassy, D’Silva told Ambassador Khan: “Pakistan is an emerging market with a huge potential for growth in agriculture and green technologies”.
“Ambassador Masood Khan said that Pakistan was fast moving toward mechanization of its agriculture sector in order to enhance its output and productivity”, the statement said. “Modernization of the agriculture sector, the backbone of economy, is our foremost priority.
“We aim to benefit from the US expertise and would welcome US Foreign Direct Investment, especially in the agricultural sector because agronomy is our backbone”.
Masood Khan said that use of advanced technology in agriculture sector would not only ensure food security in the country but also serve to further strengthen Pak-US partnership in this critical sector.
The Ukrainian crisis has created a huge challenge of food security that can only be addressed with enhanced cooperation and mutual support, stated the Ambassador.
Highlighting various steps taken by the government to improve regulatory regime and ease of doing business in the country, Ambassador Khan invited Cargill to invest in Special Economic Zones (SEZs) in Pakistan which offer huge economic incentives to international investors and business community.
The Ambassador assured Cargill of all possible support in expanding its business activities in manufacturing, food processing, and transportation sectors, which constitute core areas of expertise of the corporation.
Ambassador Khan invited Cargill to produce agricultural products for exports to the Gulf region, West Asia, Europe and Africa. He voiced his confidence that Pakistan would soon achieve self-sufficiency in grains and fertilizers and become a breadbasket for the world.
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