Pakistan

UAE allocates $10bn for investment in Pakistan’s ‘promising economic sectors’

  • Announcement comes following talks between UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Pakistan Prime Minister Shehbaz Sharif in Abu Dhabi
Published May 23, 2024 Updated May 24, 2024

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

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

PM Shehbaz arrived on Thursday in the UAE on a day-long visit with reports suggesting that investment in Pakistan would be high on his agenda.

In today’s meeting, PM Shehbaz was accompanied by 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, state-run Radio Pakistan reported.

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During the meeting, 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,” PTV said in its post on X, formerly Twitter.

Shehbaz underscored the importance of galvanising existing cooperation and strengthening strategic partnership, including in the field of information technology, renewable energy, and tourism.

The 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 and financial services, the post added.

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The 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 also exchanged views on other issues of mutual interest including regional and global developments.

PM Shehbaz reiterated his invitation to the UAE president for an official visit to Pakistan. “The UAE President accepted the invitation,” PTV reported.

Comments

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Humayun May 23, 2024 08:55pm
Shahbaz speed doing wonders for Pakistan.
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Timmy May 23, 2024 09:18pm
Hahahahahahahahah
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Chawla.i May 23, 2024 09:33pm
International bidding of Rekodik and Sandak ming shall generate 20/30biln $ , Throwing away our stretigic assets at lower value to Saudi s or UAE kings...our p m shd restraint from such Bad decisions
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Ohio tummy licker May 23, 2024 09:41pm
Hi
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hooman May 23, 2024 10:03pm
I doubt even a billion dollars worth of investment will materialize.
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Humayun May 24, 2024 12:31am
How many times would they repeat the same hoax. This has become has joke.
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Doc Asad May 24, 2024 02:25am
Another lollipop
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M. Zahid Iftikhar May 24, 2024 10:50am
Indians & Insafians are both crying in the comments section. PM is doing something right.
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Usman May 24, 2024 11:01am
@Chawla.i, where did you get 20/30 bln dollar amount.is it from some podcast or so called political leader.
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Anonymous May 24, 2024 11:26am
Easy guys, we are hearing such news for Saudi investment for months.
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SAd May 24, 2024 12:31pm
Shehbaz is really moving from beggars to business partners
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Rizwan May 24, 2024 12:34pm
@M. Zahid Iftikhar, Materialize this so called Investment then say these wordings
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Obaid Khan May 24, 2024 03:25pm
Remember the game changing CPEC investment. This is classic Shahbaz.
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Obaid khan May 24, 2024 04:13pm
Classic SS! Remember how CPEC was supposed to be a game changer. When your house is not in order, outsiders will only exploit not help you.
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Az_Iz May 24, 2024 04:47pm
Probably nothing will materialize. $20 billion Saudi investments, MOUs and on and on. Nothing materialized.
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Chawla.i May 25, 2024 11:28am
Transforming like Egyptian model where uae invested 35bil dollars thats what we want Investment in priority prjects not selling our stretigic at throw away price to uae ,with this 10bil usd set aside.
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Chawla.i May 25, 2024 11:31am
@Usman, Do u know the Rekodik and Sandak projects,shd do ur home work rather just ques...
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