United Arab Emirates commits $10 billion to invest in Pakistan’s ‘promising economic sectors’ – Pakistan

The United Arab Emirates (UAE) has announced the allocation of USD 10 billion for investment in promising sectors of the economy in Pakistan, YOU reported on Thursday.

The announcement followed talks held today by the President of the United Arab Emirates, His Highness Sheikh Mohamed bin Zayed Al Nahyan, with the Prime Minister of Pakistan Muhammad Shehbaz Sharif in Abu Dhabi to “strengthen the Pakistani economy, support it and enhance cooperation between the two countries.” – reported the official news agency of the United Arab Emirates.

Prime Minister Shehbaz arrived in the United Arab Emirates on Thursday on a day-long visit with reports suggesting that investment in Pakistan will be at the top of his agenda.

At today’s meeting, Prime Minister Shehbaz was accompanied by Deputy Prime Minister/Foreign Affairs Minister Muhammad Ishaq Dar, Commerce Minister Jam Kamal Khan, Defense Minister Khawaja Muhammad Asif and Special Assistant to the Prime Minister Syed Tariq Fatemi, a government civil servant Radio Pakistan reported.

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During the meeting, the Prime Minister expressed condolences on the death of close members of the Al Nahyan family, the late Sheikh Tahnoun bin Mohamed Al Nahyan and Sheikh Hazza bin Sultan Al Nahyan.

“The meeting was an opportunity to discuss the entire range of bilateral relations, including cooperation in the political, economic, social, cultural and defense sectors.” PTV – he stated in his post on X, formerly Twitter.

Shehbaz stressed the importance of revitalizing existing cooperation and strengthening strategic partnerships, including in the fields of information technology, renewable energy and tourism.

The Prime Minister emphasized the actions taken by the government to ensure socio-economic stability in the country and build investor 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 and financial services, the post added.

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The Prime Minister thanked the leadership of the United Arab Emirates for welcoming the 1.8 million Pakistani diaspora and highlighted the huge potential of Pakistan’s human resources, which can be utilized in many sectors.

The two leaders also exchanged views on other issues of common interest, including regional and global development.

Prime Minister Shehbaz reiterated the invitation to the UAE President to pay an official visit to Pakistan. “The President of the UAE accepted the invitation” PTV reported.