UAE to invest $10 billion to boost Pakistan’s economy

 


Prime Minister Shehbaz Sharif secured $10 billion worth of investment commitments during a visit to the United Arab Emirates. He met with UAE President Sheikh Mohamed bin Zayed Al Nahyan, who pledged $10 billion in investment across sectors in Pakistan. This came after Saudi Arabia committed $5 billion in investments last month. PM Shehbaz said he had "shunned the begging bowl" and would no longer go to countries asking for aid, instead focusing on securing investments. He highlighted steps taken by his government to improve stability and confidence for investors in Pakistan. 


During his visit, PM Shehbaz also addressed a tech conference where he vowed to transform Pakistan's economy in collaboration with the UAE. This would include job opportunities for Pakistani workers in UAE through vocational training programs. He said countries don't prosper through aid alone and that risks must be taken to achieve progress. Three memorandums of understanding on digital transformation were signed between Pakistan and UAE at the conference.


In addition to meeting with the UAE President, PM Shehbaz also met the head of Abu Dhabi Fund for Development and a delegation from the Abu Dhabi Chamber of Commerce and Industry. With the ADFD, he discussed how Pakistan's investment friendly policies were attracting foreign investment and promoting the private sector. In his meeting with the chamber of commerce, PM Shehbaz committed to boosting and diversifying trade between Pakistan and UAE.

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