UAE President commits $10 bn investment in Pakistan

ABU DHABI ( Web News )

President of the United Arab Emirates (UAE) Sheikh Mohamed bin Zayed Al Nahyan on Thursday assured his country’s full support to Pakistan in all circumstances, pledging to invest $10 billion in its multiple sectors.

The UAE President made the commitment during a bilateral meeting with Prime Minister Muhammad Shehbaz Sharif.

The meeting provided an opportunity to discuss the whole gamut of bilateral relation, including cooperation in political, economic, social, cultural, and defence sector.

The prime minister underscored the importance of galvanizing existing cooperation and strengthening strategic partnership including in the fields of information technology, renewable energy and tourism.

He highlighted the steps taken by the government aimed at ensuring socio-economic stability in the country and building the investors’ confidence.

He reiterated Pakistan’s commitment to ensure meaningful implementation of investment cooperation agreements in the areas of energy, port operations projects, waste water treatment, food security, logistics, minerals, and banking & financial services.

PM Shehbaz expressed 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 exchanged views on other issues of mutual interest, including regional and global developments.

The prime minister reiterated his invitation to the UAE president for an official visit to Pakistan, which was accepted by the latter.

PM Shehbaz was accompanied by Deputy Prime Minister and 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.

The prime minister also 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.

Prime Minister Muhammad Shehbaz Sharif on Thursday extended invitation to the UAE business leaders to take advantage of immense investment opportunities in Pakistan, especially in energy, infrastructure, tourism and IT sectors.

He was talking to a delegation of the Abu Dhabi Chamber of Commerce and Industry led by its Chairman Abdullah Mohamed Al Mazrouei which called on him.

While interacting with the delegation, the prime minister appreciated the Chamber’s role in the economic development of the UAE.

Referring to the bilateral trade and investment cooperation between Pakistan and the UAE, PM Shehbaz reiterated Pakistan’s commitment to enhance volume and scope of trade and explore possibility of its diversification.

The members of Abu Dhabi Chamber of Commerce showed keen interest in doing business and investments in Pakistan.