{"id":11955,"date":"2024-12-21T04:10:03","date_gmt":"2024-12-21T04:10:03","guid":{"rendered":"https:\/\/gsrra.com\/?p=11955"},"modified":"2024-12-21T04:10:05","modified_gmt":"2024-12-21T04:10:05","slug":"hoechst-pakistan-plans-to-establish-subsidiary-in-uae","status":"publish","type":"post","link":"https:\/\/gsrra.com\/?p=11955","title":{"rendered":"Hoechst Pakistan plans to establish subsidiary in UAE"},"content":{"rendered":"\n

<\/a><\/p>\n\n\n\n

<\/a><\/a><\/a><\/a><\/a>To capitalize on the business-friendly environment in the United Arab Emirates (UAE), another listed Pakistani company, Hoechst Pakistan Limited, formerly Sanofi-Aventis Pakistan Limited, announced plans to establish a subsidiary in the Gulf state.<\/strong><\/p>\n\n\n\n

On Friday, the company shared this development in a notice to the Pakistan Stock Exchange (PSX).<\/p>\n\n\n\n

\u201cThe Board of Directors of Hoechst Pakistan Limited in its meeting held on December 19, 2024, has accorded its approval for incorporation of a wholly owned foreign subsidiary in the UAE,\u201d read the notice.<\/p>\n\n\n\n

The incorporation is subject to all applicable regulatory approvals, the pharmaceutical added.<\/p>\n\n\n\n

\u201cThe subsidiary will be primarily engaged in commercial trading with import, export, distribution and warehousing as its ancillary activities,\u201d it said.<\/p>\n\n\n\n

At the time of this report, the share price of Hoechst Pakistan stood at Rs2,655, a decrease of Rs55 or 2.03%.<\/p>\n\n\n\n

UAE has become a preferred destination for Pakistan\u2019s companies, which has a lot to do with the streamlined payment process, favourable business environment, and better enforcement of contracts among several other reasons.<\/p>\n\n\n\n

The Middle Eastern country is ranked a highly ninth \u2013 out of 190 \u2013 on enforcing contracts. It is also ranked first on the metric of \u2018getting electricity\u2019.<\/p>\n\n\n\n

Owing to this trend several Pakistani companies have expanded their operations to the UAE.<\/p>\n\n\n\n

Earlier in September, Symmetry Group<\/a>, a digital technology company based in Pakistan, disclosed the company\u2019s plans to set up a subsidiary in UAE.<\/p>\n\n\n\n

Back in June, Ismail Industries Limited<\/a>, a manufacturer of confectionary items, announced to set up a subsidiary in Abu Dhabi, UAE.<\/p>\n\n\n\n

Similarly, Treet Corporation Limited<\/a> announced that it has successfully incorporated a wholly-owned subsidiary, Treet Trading LLC, in Dubai, UAE.<\/p>\n\n\n\n

Experts believe incorporating an office in the UAE offers Pakistani companies a strategic advantage, enabling them to leverage a global hub with the required infrastructure and a proper legal framework.<\/p>\n\n\n\n

Reference Link:- https:\/\/www.brecorder.com\/news\/40338704<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

To capitalize on the business-friendly environment in the United Arab Emirates (UAE), another listed Pakistani company, Hoechst Pakistan Limited, formerly Sanofi-Aventis Pakistan Limited, announced plans to establish a subsidiary in the Gulf state. On Friday, the company shared this development in a notice to the Pakistan Stock Exchange (PSX). \u201cThe Board of Directors of Hoechst […]<\/p>\n","protected":false},"author":1,"featured_media":11956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[8530,132,105,8528,8527,36,8531,8529,1004],"class_list":["post-11955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sample-category","tag-business-friendly","tag-economy","tag-geopolitics-2","tag-hoechst-pakistan","tag-hoechst-pakistan-plans-to-establish-subsidiary-in-uae","tag-pakistan","tag-sanofi-aventis","tag-subsidry","tag-uae"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/11955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11955"}],"version-history":[{"count":1,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/11955\/revisions"}],"predecessor-version":[{"id":11957,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/posts\/11955\/revisions\/11957"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=\/wp\/v2\/media\/11956"}],"wp:attachment":[{"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gsrra.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}