UAE commits $10 Billion Investment in Pakistan across Multiple sectors

English , Latest - تازہ ترین , / Friday, May 24th, 2024

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The United Arab Emirates has pledged a $10 billion investment across various sectors of Pakistan’s economy, as announced by the Prime Minister’s Office (PMO) on Thursday. Prime Minister Muhammad Shehbaz Sharif held a bilateral meeting in Abu Dhabi with UAE President and Abu Dhabi Ruler Sheikh Mohamed bin Zayed Al Nahyan. Accompanying him were Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Minister for Commerce Jam Kamal Khan, Minister for Defence Khawaja Muhammad Asif, and Special Assistant to the Prime Minister Syed Tariq Fatemi.
During the meeting, condolences were offered on the recent losses in the Al Nahyan family. Discussions encompassed a wide range of bilateral relations, covering political, economic, social, cultural, and defence cooperation. Prime Minister Shehbaz emphasized the need to strengthen the strategic partnership, particularly in information technology, renewable energy, and tourism. He highlighted Pakistan’s efforts to maintain socio-economic stability and enhance investor confidence.
The government’s commitment to implementing investment cooperation agreements in energy, port operations, wastewater treatment, food security, logistics, minerals, and banking was reiterated. The UAE president pledged unwavering support and committed to the $10 billion investment in multiple Pakistani sectors. The prime minister expressed gratitude for the UAE’s hospitality towards 1.8 million Pakistani expatriates and emphasized Pakistan’s significant human resource potential.
Both leaders discussed regional and global developments, with Prime Minister Shehbaz inviting the UAE president to visit Pakistan officially, an invitation that was accepted.