ANL 16.20 Decreased By ▼ -0.18 (-1.1%)
ASC 14.63 Increased By ▲ 0.95 (6.94%)
ASL 20.04 Decreased By ▼ -0.41 (-2%)
BOP 8.55 Decreased By ▼ -0.05 (-0.58%)
BYCO 7.53 Increased By ▲ 0.24 (3.29%)
FCCL 17.50 Increased By ▲ 0.11 (0.63%)
FFBL 23.15 Increased By ▲ 1.68 (7.82%)
FFL 15.25 Increased By ▲ 0.35 (2.35%)
FNEL 7.35 Increased By ▲ 0.05 (0.68%)
GGGL 17.15 Increased By ▲ 0.74 (4.51%)
GGL 29.95 Increased By ▲ 0.10 (0.34%)
HUMNL 5.96 Increased By ▲ 0.17 (2.94%)
JSCL 20.68 Increased By ▲ 0.28 (1.37%)
KAPCO 28.99 Increased By ▲ 0.31 (1.08%)
KEL 3.48 Increased By ▲ 0.03 (0.87%)
MDTL 2.11 Decreased By ▼ -0.09 (-4.09%)
MLCF 33.60 Increased By ▲ 0.18 (0.54%)
NETSOL 106.00 Decreased By ▼ -1.55 (-1.44%)
PACE 4.33 Decreased By ▼ -0.17 (-3.78%)
PAEL 27.95 Increased By ▲ 0.75 (2.76%)
PIBTL 8.70 Increased By ▲ 0.10 (1.16%)
POWER 6.90 Decreased By ▼ -0.03 (-0.43%)
PRL 17.18 Increased By ▲ 0.87 (5.33%)
PTC 9.30 Increased By ▲ 0.12 (1.31%)
SILK 1.44 No Change ▼ 0.00 (0%)
SNGP 42.33 Increased By ▲ 0.27 (0.64%)
TELE 16.45 Decreased By ▼ -0.09 (-0.54%)
TRG 135.78 Decreased By ▼ -2.22 (-1.61%)
UNITY 29.90 Increased By ▲ 1.40 (4.91%)
WTL 2.40 Decreased By ▼ -0.05 (-2.04%)
BR100 4,668 Increased By ▲ 50.21 (1.09%)
BR30 20,892 Increased By ▲ 107.28 (0.52%)
KSE100 44,822 Increased By ▲ 487.85 (1.1%)
KSE30 17,521 Increased By ▲ 178.45 (1.03%)

Coronavirus
LOW Source: covid.gov.pk
Pakistan Deaths
28,228
2724hr
Pakistan Cases
1,262,771
1,08624hr
2.03% positivity
Sindh
464,746
Punjab
437,316
Balochistan
33,108
Islamabad
106,357
KPK
176,501
Business & Finance

Egypt to invest $1bn in Pakistan, says Egyptian ambassador

Investment will mainly be in energy, building, pharmaceutical, halal food and tourism sectors. Last week, Mini
Updated 22 Oct 2019
  • Investment will mainly be in energy, building, pharmaceutical, halal food and tourism sectors.
  • Last week, Ministry of Commerce and Egyptian Commercial Service signed a MoU for the establishment of the JWG on trade.

Days after a meeting between high-profile delegation of both countries, Egyptian ambassador to Pakistan Ahmed Fadel Yacoub has revealed Egyptian companies will be investing $1 billion in Pakistan.

“Investment projects will begin in the next one year. The understanding was reached during the visit of two high-profile business delegations from Egypt to Pakistan during the month of October,” said Yacoub, Arab News reported.

The envoy further said that the investments are coming from the private sector and will be in different sectors, mainly in energy, building, pharmaceutical, halal food and tourism. “From the information provided by the representatives [of these companies], the investment would be approximately $1 billion,” said the envoy.

Last week, the Ministry of Commerce and Egyptian Commercial Service signed a Memorandum of Understanding for the establishment of the Pakistan-Egypt Joint Working Group on Trade in Islamabad, in order to explore untapped economic opportunities.

The Pakistan delegation was led by Secretary Commerce Ahmed Sukhera while Egypt was represented by First Undersecretary of Egyptian Commercial Service Ahmed Anter.

Comments

Comments are closed.