Pakistan engages Japanese Sumitomo Corporation for investment in mining sector

The Special Investment Facilitation Council, Pakistan's investment promotion body, has engaged Japan's Sumitomo Corporation to look at investment options in the country's mining and minerals sector. According to a statement the SIFC issued on Tuesday, the work will cover emerging projects that carry significant investment potential. Business Recorder reported the development on the basis of that official release.

Sumitomo is a large Japanese firm active in general trading and investment, based in Tokyo. The council said the engagement reflects rising international interest in Pakistan's natural resources and presents the SIFC as a central platform for drawing investment and turning identified opportunities into commercially viable ventures. The move forms part of a wider effort to connect global investors with strategic sectors and help them enter projects that stand on commercial footing.

The council also described the sector as holding wide room for prospecting, growth, processing and related manufacturing. The SIFC was set up on June 17, 2023 by Shehbaz Sharif's government to lift foreign direct investment and revive the economy, with an immediate goal of raising FDI to $5 billion.