Italian auto giant Piaggio coming back to Pakistan

LAHORE - Italian auto giant Piaggio is coming back to Pakistan, paving the way for European automobile technology, which would give a big boost to the motorcycle industry of the country.
Senior Vice President Piaggio Mr Riccardo Mastronardi said while speaking after MoU signing between the Piaggio and HKF Engineering here at the Lahore Chamber of Commerce and Industry (LCCI) on Thursday.
LCCI President Mohammad Ali Mian, Senior Vice President Mian Muzaffar Ali, Vice President Shafat Saeed Piracha and CEO HKF Engineering Haroon Arshad also spoke on the occasion. Mr Reccardo said that Piaggio is one of the leading motorcycle manufacturers in the world and the first two-wheeler scooter in the world VESPA is its masterpiece.
He said that Piaggio's coming back to Pakistan and joining hand with a leading Pakistani motorcycle manufacturing company HKF Engineering makes the point that in the European world Pakistan is known as investment-friendly country.
LCCI President Mhammad Ali Mian said that auto-industry is one of the important sectors as it is not only providing direct jobs to more than 500 thousand people but also contributing to the national exchequer in a big way.
The LCCI President said that the Lahore Chamber of Commerce and Industry was making all out efforts for promotion of trade and investment in the country and Piaggio's inking agreement with HKF Engineering endorses the LCCI point of view that any investment made in this country is bound to give rich dividends. He said the Memorandum of Understanding between the two big organizations would go a long way and Pakistani entrepreneurs would learn a lot from latest European technology.