Prime Minister Shaukat Aziz has said Dubai's plan for investment in Pakistan is an indication of the investors' confidence in Pakistan's economy.
"These investment plans run in to several billion dollars, the largest investment of its kind, and something, which signifies a great deal of investors' confidence," the prime minister was quoted as saying in an interview with the Financial Times (FT), one of the leading UK dailies here on Saturday. Financial Times, in its comments, said that Dubai was poised to become the biggest foreign investor in Pakistan following the announcement of property, financial service and infrastructure projects worth billions of dollars.
"There is an excellence in Dubai, which can be exported to Pakistan," Shaukat Aziz was quoted as saying.
The UK's daily said the plans were revealed during a visit by ruler of Dubai, to Islamabad recently, adding that details of the projects had not been released, but it quoted some reports as saying that business groups Emaar and Dubai World were ready to invest in property projects worth more than $30 billion. The newspaper said the Dubai Islamic Bank has also sought permission from State Bank to establish between 50 to 70 new branches across the country.