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Spanish supermarket chain Condis is set to invest up to PKR139bn (US$1bn) in Pakistan.
Last month, a team of Condis supermarket colleagues headed by the Director of Expansion, Mr. Jose Manuel Castellano visited Pakistan. As reported in ARY News, the team visited several cities, including Multan, Jhelum, Rawalpindi and Islamabad to explore feasibility of entering the market.
With the potential investment, Condis will look to strengthen its sourcing credentials. It plans to import their products to Pakistan, but also export Pakistani products back to Spain so shoppers in both countries can benefit from new products.
In recent years, we have seen increasing investment in Pakistan. It is a market where traditional dominates, but foreign retailers such as Majid Al Futtaim, SPAR International and Alibaba, alongside existing local players such as Utility Stores Corporation, are driving growth in modern trade.
While internal political disputes have led to uncertain trading conditions for retailers (e.g. displacement of shopkeepers), Pakistan’s economy has grown quickly in recent years. This has been supported by investment from China in the China-Pakistan Economic Corridor. Its close ties with China, large population of young people and increased levels of foreign investment is making Pakistan an exciting market for businesses to consider.