Nestle on Thursday announced that it would invest an additional $60 million in Pakistan and would also “undertake a robust expansion of its operations in the country”.

The development came as Finance Minister Muhammad Aurangzeb met Remy Ejel, the executive vice president and chief executive officer for Asia, Oceania, and Africa at Nestle, on the sidelines of the World Economic Forum (WEF) in Davos, according to a statement issued by the finance ministry.

The ministry said Aurangzeb chaired a high-level business roundtable on the sidelines of the WEF, bringing together chief executive officers and senior leaders of leading global corporations to discuss Pakistan’s reform trajectory, investment climate, and long-term growth potential.

“The roundtable formed part of the government of Pakistan’s ongoing engagement with multinational investors to promote policy predictability, economic formalisation, and sustainable, export-oriented growth,” it said.

“A major highlight of the discussion was the announcement by Ejel … of an additional investment of $60 million in Pakistan. Ejel stated that Nestle will undertake a robust expansion of its operations in the country, reaffirming its long-term commitment to Pakistan,” the statement said.

“He further announced that Nestle intends to use Pakistan as a regional manufacturing and export hub, exporting products to 26 countries from Pakistan. Expressing strong confidence in Pakistan’s economic outlook, Ejel foresaw robust growth in Nestle’s business in Pakistan in the coming years,” the statement said.

According to the finance ministry, the announcement builds on the company’s recent engagement with the minister in Islamabad, where the company had “outlined its strategy centered on localisation, advanced manufacturing, sustainability, and agricultural transformation”.

The statement further said that Ejal noted that Pakistan’s demographic profile, growing nutrition needs, and underpenetrated value-added food segments closely mirrored successful growth trajectories seen in Southeast Asia.

Meanwhile, Aurangzeb welcomed the announcement and described it as a “strong vote of confidence in Pakistan’s economic reforms and formalisation drive”.

“He reaffirmed the government’s commitment to strengthening the tax ecosystem, ensuring policy consistency, and facilitating responsible long-term investment through continued engagement with the private sector, including via the Tax Policy Office established within the Finance Division,” the statement said.

The minister also emphasised that Pakistan offered compelling opportunities in affordable nutrition, climate-resilient dairy, localised 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 signals investment in Pakistan’s oil and gas sector

A separate handout by the ministry said that following the high-level business roundtable chaired by Aurangzeb, the State Oil Company of the Republic of Azerbaijan (Socar) announced that it was set to finalise its investment in Pakistan’s oil and gas sector in February.

The announcement was made by Socar’s president, Rovshan Najaf, during the roundtable, the statement said.

Socar viewed Pakistan as a natural long-term energy partner, pointing to the country’s market depth, rising energy demand, and reform momentum in the oil and gas sector, the statement quoted him as saying.

He added that Socar’s planned investment would build on its existing commercial footprint in Pakistan and expand cooperation across the energy value chain, it said.

He noted that the company was already in a commercial engagement in Pakistan through Socar Trading, providing Pakistan with flexible liquefied natural gas arrangements.

Najaf also noted Socar’s engagement with Pakistan State Oil (PSO) and expressed interest in expanding cooperation across the broader oil and gas value chain as Pakistan continues to implement energy-sector reforms. He emphasised Socar’s experience as a peer national energy company from an emerging economy, positioning it as a credible long-term partner for Pakistan’s energy sector.

Meanwhile, the finance minister reiterated the government’s commitment to attracting strategic and commercially viable investment in the oil and gas and mining sectors, describing these areas as central to Pakistan’s energy security and industrial growth.

“He noted that ongoing reforms are focused on improving pricing transparency, contractual clarity, and risk-sharing mechanisms to support sustained private-sector participation,” the statement said.