Inside Financial Markets

Nestlé MD sees Pakistan in ‘hot zone’ of high economic activity

Anticipating bright prospects for industry, local head of the global food giant has said that Pakistan seems poised to enter high economic activity ‘hot zone’, potentially moving to post double-digit growth.

“With increasing per capita income, gradual improvement in economic growth, better law and order situation, easing energy crisis, political stability, exponential gains in equity market, massive infrastructural development under China-Pakistan Economic Corridor (CPEC) and other favourable indicators, we are hopeful of entering the hot zone, which tends to open new vistas of robust growth for food and other industries,” said Bruno Olierhoek, Managing Director and Chief Executive Officer of Nestlé Pakistan.

Having over Rs 100 billion of turnover, Nestlé Pakistan is one of the leading companies operating in Pakistan and performance of food giant has frequently been referred as a success story at various forums.

Sharing his forward-looking view in an exclusive talk with The News, Olierhoek said,” The local and foreign companies have already started taking interest in expanding their investment in view of the emerging developments.”

“Apart from macroeconomic stability, roads and other infrastructural development, under the CPEC, will greatly improve access to remote areas of Balochistan and other provinces, leading to greater economic activity. The industry is also expecting huge benefits from power projects being constructed as major component of CPEC.”

Olierhoek said the Nestlé Pakistan is optimistic about power shortages coming to an end as well as reduction in the cost of energy, which will eventually cut business cost.

Pledging long term commitment of his company, Olierhoek said, “Nestlé Pakistan attaches great importance to local market that offers limitless resources and possibilities.”

“Having an emerging middle class, a substantial young population and increasingly health conscious people, Pakistan looks eager to offer market penetration after evolving into a hotspot for investment,” he said suggesting the establishment/enforcement of a National Quality Council to ensure uniform standards throughout the country and to further aid investment for food companies.

Describing the experience of his company, while referring to successes and contribution of local chapter of the global food business, Olierhoek termed the uniqueness of Nestlé Pakistan as another source of pride for his side.

“There are several products that have been conceived or have gained astounding success in Pakistan,” he said specifically mentioning the popular bottled water brand of Nestlé Pure Life. He revealed the whole idea of launching this brand was conceived in Pakistan back in 1998, spreading to Europe in 2000 and the United States in 2002, while the brand development and product launch was done by Nestlé Pakistan team in Lahore.

Giving further details on Nestlé Pure Life, Olierhoek said, “This product is attracting millions of satisfied customers in about 40 countries, across five continents every year. It has now emerged as a truly global brand and might have earned the distinction of single largest water brand of the world. It is now quenching thirst of people living in many countries right from Thailand to as far as USA. “This tremendous success was achieved due to untiring efforts of our employees, he observed. We are blessed with a wonderful team here in Pakistan, consisting of bright and competent people. Their openness and receptiveness to adopt innovative ideas is amazing, he observed.”

“I feel very happy to be in this beautiful country and people in Pakistan are very warm and friendly, Nestlé MD, who assumed the role of company head last year, said while sharing his experience of working and staying in Pakistan. “On top of that, they are food lovers and if you work with Nestlé, having motto of Good Food, Good Life, it is really a wonderful place to be.”

“Since Nestlé is all about nutrition, health and wellness, we want to offer a healthy present and an even healthier future for the people. That is why we are constantly working on making our products healthier and tastier”, he said on a concluding note.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)