The UAE is set to invest up to $25 billion in various sectors in Pakistan, as indicated by recent multi-billion-dollar investment agreements signed during Prime Minister Anwaar-ul-Haq Kakar's visit to the Gulf nation. The UAE Consul-General in Karachi, Dr. Bakheet Ateeq Al-Remeithi, highlighted the focus on sectors such as agriculture, ports and logistics, and power under these agreements. Despite the attractive investment, the Consul-General noted that the next year would see even more substantial inflows, with private sector investors from the UAE expressing interest in Pakistan's food security, health, and education sectors.
Expressing mutual benefit, Dr. Al-Remeithi emphasized the close ties between the two nations and the positive impact of the investment on both economies. Acknowledging Pakistan's proactive approach to foreign investment, he commended the efficiency of the Special Investment Facilitation Council (SIFC), a forum established in June, in expediting decision-making.
The UAE's investment plans include establishing an export hub in Karachi and providing logistical support to remote areas in Balochistan and Sindh provinces. Dr. Al-Remeithi praised the strategic role of the SIFC, underscoring its effectiveness in facilitating swift deals.
Pakistan and the UAE share a strong alliance, with the Gulf nation ranking as Pakistan's third-largest trade partner, following China and the United States. Geographical proximity further enhances the UAE's appeal as an ideal export destination for Pakistan. The Emirati investment underscores the commitment to bolstering economic cooperation and fostering growth in key sectors.
Source: www.arabnews.pk