DAVOS (MNN); Nestlé on Thursday announced an additional investment of $60 million in Pakistan, along with plans for a major expansion of its operations in the country.
The announcement came during a meeting between Finance Minister Muhammad Aurangzeb and Remy Ejel, Executive Vice President and Chief Executive Officer for Asia, Oceania and Africa at Nestlé, held on the sidelines of the World Economic Forum (WEF) in Davos, according to a statement issued by the Ministry of Finance.
The ministry said the finance minister also chaired a high-level business roundtable at the WEF, attended by chief executives and senior leaders of leading multinational companies. The discussion focused on Pakistan’s reform agenda, investment environment and long-term growth prospects.
The roundtable was part of the government’s continued engagement with multinational investors aimed at promoting policy stability, economic formalisation and sustainable, export-led growth.
A key outcome of the discussion was Nestlé’s announcement of a further $60 million investment. Ejel said the company would significantly expand its operations in Pakistan, reaffirming its long-term commitment to the country.
He added that Nestlé plans to use Pakistan as a regional manufacturing and export hub, supplying products to 26 countries. Expressing confidence in Pakistan’s economic outlook, Ejel said the company expects strong growth in its local business in the coming years.
The finance ministry noted that the announcement builds on Nestlé’s recent engagement with the minister in Islamabad, where the company outlined a strategy focused on localisation, advanced manufacturing, sustainability and agricultural transformation.
Ejel also observed that Pakistan’s demographic profile, increasing nutrition needs and underdeveloped value-added food segments resemble growth patterns seen in Southeast Asian markets.
Finance Minister Aurangzeb welcomed the announcement, calling it a strong vote of confidence in Pakistan’s economic reforms and formalisation drive. He reaffirmed the government’s commitment to strengthening the tax system, ensuring policy consistency and facilitating responsible long-term investment through close engagement with the private sector.
He further highlighted opportunities in affordable nutrition, climate-resilient dairy, local sourcing and export-oriented manufacturing, and reiterated the government’s resolve to position Pakistan as a competitive base for regional production and global value chains.
Azerbaijan’s Socar to Finalise Oil, Gas Investment in February
In a separate statement, the finance ministry said Azerbaijan’s state oil company, Socar, has signalled that it will finalise its investment in Pakistan’s oil and gas sector in February.
The announcement was made by Socar President Rovshan Najaf during the business roundtable chaired by the finance minister.
Najaf described Pakistan as a long-term energy partner, citing the country’s large market, rising energy demand and ongoing reforms in the oil and gas sector.
He said Socar’s planned investment would build on its existing presence in Pakistan and expand cooperation across the energy value chain. He noted that Socar is already engaged commercially through Socar Trading, providing flexible liquefied natural gas arrangements to Pakistan.
Najaf also referred to Socar’s collaboration with Pakistan State Oil and expressed interest in broadening cooperation across the oil and gas sector as reforms continue. He said Socar’s experience as a national energy company from an emerging economy positions it as a reliable long-term partner for Pakistan.
Finance Minister Aurangzeb reiterated the government’s commitment to attracting strategic and commercially viable investment in the oil, gas and mining sectors, calling them critical to Pakistan’s energy security and industrial development. He said ongoing reforms aim to improve pricing transparency, contractual clarity and risk-sharing to encourage sustained private-sector participation.
