n Pakistan, there are 30,000 companies, out of which 675 have foreign capital. The multinationals began choosing Pakistan for
investment even before independence. ICI was the first multinational by setting up a soda ash plant in 1942, and, since then, it
has diversified its business/ manufacturing activities in sectors that include, pharmaceuticals, chemicals, and polyester fibre.
Many other multinationals, such as Unilever, Shell, Philips, Parke Davis, Wellcome, also saw an opportunity early and have
benefited by investing.

In addition to subsidiaries and joint ventures, there are many licensing and technical support arrangements with local
entrepreneurs, some of which have resulted through direct investment which have now been wholly or partially brought by local
entrepreneurs. For example, Exxon in the fertilizers industry and Exide in the battery market.

In spite of a regulated economic regime till about six years ago, the multinationals found Pakistan to be an attractive place for
investment. A number of them are shown below. With complete deregulation of the economy, resulting in no requirement for
any investment approvals, multinationals and other foreign investors find Pakistan a really profitable place in which to invest.

Automobile & Engineering

AEC, C Itoh, Exide, Fiat, General Tyre, Hino, Honda, Lucas, Nissan, Mitsui, Singer, Suzuki, Toyota, Yamaha.

Chemicals & Pharmaceuticals

BASF, Bayer, Beecham, Berger, Boots, British Oxygen, Ciba Geigy, Cynamid, Dow Chemicals Pacific, Dupont Far East,
Engro, Glaxo, Hercules, Hoechst, ICI, Johnson & Johnson, Johnson & Nicholson, Merck & Co., N.V. Upjohn, Parke Davis,
Pfizer, Reckitt & Coleman, Roche, Rhone Poulenc, Samsong, Sandoz, Smith Kline, Beecham, Squibb/Searle, Sterling
Products, Warner Lambert, Wellcome, Wyeth.

Electronic & Electricals

ABB, GEC, Gestetner, IBM, Johnson & Philips, Mitsubishi, NCR, Philips, Siemens.

Transport & Communications

Alcatel, Cable & Wireless, DHL, Ericsspn, Motorolla.

Oil & Gas

Caltex, Castrol, Gulf, Lasmo, Shell, Union Texas.

Food, Consumer Products & Packaging

Associated Biscuits, BAT, Brooke Bond, Cargill, Coca Cola, Colgate, Eastman Kodak, Gillete, Knorr A.G., Lipton, Nestle,
Pepsico, Philips Morris, Proctor & Gamble, Tetra Pak, Unilever.

Hotels

Hilton, Holiday Inn, Marriott, Ramada, Sheraton.


"International companies say the incentives for foreign investors are among the most attractive in the developing
world."

Stefan Wagstyl, Financial Times, November 28, 1994.

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