UAE allocates $10 billion for investment in promising economic sectors in Pakistan
- Last updated: May 23, 2024 | 19:36
The United Arab Emirates has announced the allocation of $10 billion for investment in promising economic sectors in the Islamic Republic of Pakistan.
The announcement came following talks held today by President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, with Muhammad Shahbaz Sharif, Prime Minister of the Islamic Republic of Pakistan, in Abu Dhabi to strengthen the Pakistani economy, support it, and enhance cooperation between the two countries.
The Prime Minister was accompanied by the Deputy Prime Minister/Foreign Minister Muhammad Ishaq Dar, Minister for Commerce Jam Kamal Khan, Minister for Defence Khawaja Muhammad Asif and Special Assistant to Prime Minister Syed Tariq Fatemi.
The Prime Minister offered condolences on the passing away of close family members of Al Nahyan family, late Sheikh Tahnoun bin Mohamed Al Nahyan and late Sheikh Hazza bin Sultan Al Nahyan.
The meeting provided an opportunity to discuss whole gamut of bilateral relations including cooperation in political, economic, social, cultural and defence sectors. Prime Minister underscored the importance of galvanizing existing cooperation and strengthening strategic partnership including in the field of information technology, renewable energy and tourism.
Prime Minister highlighted steps taken by the government aimed at ensuring socio-economic stability in the country and building investors’ confidence. He reiterated Pakistan’s commitment to ensure meaningful implementation of investment cooperation agreements in the areas of Energy, Port Operations Projects, Wastewater Treatment, Food Security, Logistics, Minerals, and Banking & Financial Services.
President of the UAE His Highness Sheikh Mohamed bin Zayed Al Nahyan assured UAE’s support in all circumstances and made commitment of investing US$ 10 billion in multiple sectors in Pakistan.
Prime Minister conveyed gratitude to the UAE leadership for hosting 1.8 million Pakistani diaspora and highlighted Pakistan’s huge human resource potential that could be engaged in multiple sectors.
Both leaders exchanged views on other issues of mutual interest including regional and global developments. The Prime Minister reiterated his invitation to the UAE President for an official visit to Pakistan. The UAE President accepted the invitation.