UAE to invest $10bn in Pakistan

May 23 2024 (MLN): The United Arab Emirates (UAE) has allocated $10 billion for investment in promising economic sectors in Pakistan, WAM reported on social media platform X.

Prime Minister of Pakistan Shehbaz Sharif held a bilateral meeting with Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi today, the state-run Pakistan Television (PTV) said in its post on X.

The meeting provided an opportunity to discuss whole gamut of bilateral relations including cooperation in political, economic, social, cultural and defence sectors, it said.

Prime Minister underscored the importance of galvanizing existing cooperation and strengthening strategic partnership including in the field of information technology, renewable energy and tourism, it said.

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 & Financial Services. 

President of the UAE Sheikh Mohamed bin Zayed Al Nahyan assured UAE’s support in all circumstances and made commitment of investing $10bn in multiple sectors in Pakistan, PTV said.

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 exchanged views on other issues of mutual interest including regional and global developments, the post added.

Shehbaz Sharif said, "We had a most productive exchange of views on important aspects of our bilateral cooperation as well as an exchange of views on the regional situation."

He added that UAE and Pakistan agreed to continue working closely to further strengthen the brotherly and cooperative ties between the two countries.

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