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Home Feature Economy

UAE to Invest $10 bn to Boost Pakistan’s Economy

The Global Economics by The Global Economics
May 24, 2024
in Economy, Top Stories
Reading Time: 3 mins read
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UAE to Invest $10 bn to Boost Pakistan’s Economy

UAE to Invest $10 bn to Boost Pakistan’s Economy (Source: Canva)

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With the UAE leading advanced change in the Middle East and positioned as the third biggest destination for Pakistan’s IT exports, the Prime Minister encouraged to cultivate further commitment between Pakistani IT ventures and their UAE partners.

The UAE has vowed $10 billion (Dh36.7 billion) to invest in promising monetary areas in Pakistan, as per the UAE Ministry of Investment. This announcement was made on Thursday after a gathering between His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the UAE, and Prime Minister of Pakistan, Shehbaz Sharif. The motivation behind the meeting was to improve support for the Pakistani economy and lift cooperation between the two countries.  

During the meeting in Qasr Al Shati, the Pakistan PM Sherif and Sheik Mohammed discussed the opportunities that they have to increase participation and develop both countries in different sectors including trade, and economy, and improve the ties between the two nations.

The Prime Minister of Pakistan confirmed his country’s obligation to support its binds with the UAE and extend their participation in economy, exchange, and speculation, as well as profiting from the UAE‘s moving development venture.

Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi; Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Advisor for Special Affairs at the Presidential Court; Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region; Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan; Ali bin Hammad Al Shamsi, Secretary-General of the Supreme Council for National Security; Mohamed Mubarak Fadhel Al Mazrouei, Minister of State for Defence Affairs; Sheikh Abdulla bin Mohammed bin Butti Al Hamed, Chairman of the National Media Office; and a number of other officials were present at the meeting.

Prior, Pakistan’s PM Shehbaz Sharif showed up on Thursday in Abu Dhabi on a working visit to the country. According to wam, Prime Minister Sharif was greeted at Abu Dhabi’s Al Bateen Executive Airport by the Vice President, Deputy Prime Minister, and Chairman of the Presidential Court Sheikh Mansour Bin Zayed Al Nahyan, and a number of officials.

This is Sharif’s first visit to the UAE since his election early this year. Significant leaders including Deputy Prime Minister and Foreign Minister Ishaq Dar joined him.

During his visit PM Sharif likewise took part in a round-table meeting named “Innovate together: UAE-Pakistan Tech Collaboration” in Abu Dhabi. The occasion was coordinated by the Pakistan Software Houses Association (P@SHA) and Pakistan Software Export Board (PSEB) in a joint effort with the Ministry of Information Technology and Telecommunication; upheld and composed by Pakistan Embassy in Abu Dhabi.

The occasion was attended by delegates and heads of Information Technology (IT) organizations situated in UAE as well as Pakistani IT specialists. The event was also attended by the Deputy Prime Minister, Foreign Minister Muhammad Ishaq Dar; Minister for Information Attaullah Tarar; Minister for Commerce Jam Kamal Khan; Special Assistant to Prime Minister Syed Tariq Fatemi and Minister of State for IT and Telecom Shaza Fatima Khawaja.

Prime Minister Sherif acknowledged and supported Tech entrepreneurs, IT firms, and experts from Pakistan and the United Arab Emirates for uniting and experimenting with the roads for elevated collaboration in the Telecom and IT industry.     

With the UAE leading advanced change in the Middle East and positioned as the third biggest destination for Pakistan’s IT exports, the Prime Minister encouraged to cultivate further commitment between Pakistani IT ventures and their UAE partners. The center goal of the event was to unite UAE-based IT organizations with solid collaborating networks with Pakistani organizations; recognize examples of overcoming adversity; and draw a course for future partnerships pointed toward reinforcing business-to-business linkages and driving development for the common advantage of the two nations.

The State leader additionally had an intuitive conversation with the members and answered different remarks and ideas. He shared the responsibility of his administration for further developing the business environment in the digital economy of his nation and welcomed investors to visit Pakistan. He additionally saw the signing function of three MOUs, between Pakistani and UAE IT organizations to execute digital transformation.

Source: short URL
Tags: abu dhabiDubaiitmiddle eastPakistanShehbaz Sharifuae
The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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