UAE Pledges $10 Billion Investment in Pakistan

UAE Pledges $10 Billion Investment in Pakistan

Abu Dhabi, May 23, 2024 – In a significant diplomatic and economic development, President of the United Arab Emirates (UAE), Sheikh Mohamed bin Zayed Al Nahyan, has pledged a substantial investment of $10 billion in various sectors of Pakistan.

This momentous commitment was made during a high-profile bilateral meeting with Prime Minister Muhammad Shehbaz Sharif on Thursday.

The meeting, which served as a platform to discuss the comprehensive scope of bilateral relations, covered areas of cooperation spanning political, economic, social, cultural, and defense sectors. Prime Minister Sharif emphasized the imperative of invigorating existing collaborations and bolstering the strategic partnership between the two nations, particularly in the domains of information technology, renewable energy, and tourism.

Prime Minister Sharif highlighted the proactive measures undertaken by his government to ensure socio-economic stability and build investor confidence in Pakistan. He reaffirmed Pakistan’s dedication to the effective implementation of investment cooperation agreements, particularly in critical sectors such as energy, port operations, wastewater treatment, food security, logistics, minerals, and banking and financial services.

The prime minister expressed profound gratitude to the UAE leadership for hosting a significant Pakistani diaspora of 1.8 million individuals. He underscored Pakistan’s vast human resource potential, which could be harnessed across multiple sectors, further strengthening the bilateral relationship.

Both leaders also exchanged views on issues of mutual interest, including regional and global developments. In a gesture of goodwill, Prime Minister Sharif reiterated his invitation to President Al Nahyan for an official visit to Pakistan, which was graciously accepted by the UAE president.

Prime Minister Sharif was accompanied by a high-level delegation, including 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 the Prime Minister Syed Tariq Fatemi.

During the meeting, Prime Minister Sharif also offered condolences on the recent passing of close family members of the Al Nahyan family, including the late Sheikh Tahnoun bin Mohamed Al Nahyan and the late Sheikh Hazza bin Sultan Al Nahyan, expressing solidarity and sympathy with the UAE leadership in their time of mourning.

The pledged $10 billion investment is poised to significantly enhance Pakistan’s economic landscape, fostering growth and development across multiple sectors. This commitment from the UAE is not only a testament to the strong bilateral ties between the two nations but also a beacon of confidence in Pakistan’s economic future. The investment is expected to catalyze various infrastructural and developmental projects, thereby contributing to the socio-economic upliftment of the country.

As Pakistan and the UAE continue to fortify their strategic partnership, this landmark investment underscores the robust and enduring relationship between the two nations, promising a prosperous and collaborative future.