The United Arab Emirates (UAE) pledged 10 billion US Dollars in investment in Pakistan. This investment will prove as a significant contribution to Pakistan’s economy and development agenda. It is likely to create jobs and help infrastructure development. This decision was taken in a meeting of the President of UAE Sheikh Muhammad Bin Zayed Al Nahyan with the Prime Minister of Pakistan Muhammad Shehbaz Sharif.
It seems a significant achievement for the current government led by PM Shehbaz Sharif. The UAE President has pledged a substantial investment in Pakistan to support the country’s economy. The PM recently made a one-day trip to the UAE, accompanied by Deputy Prime Minister Ishaq Dar and Commerce Minister Jam Kamal Khan.
The media in the UAE quoted the Prime Minister as saying that Pakistan is interested in transforming its economy through collaboration with the UAE. Addressing a roundtable conference on “Innovate together: UAE-Pakistan Tech Collaboration,” the Prime Minister stated, “Whether it’s a joint venture, collaboration, or knowledge-sharing partnership between Pakistan and the UAE.” The PM was reported to have said that Pakistan is not seeking a loan, but rather collaboration and joint investments to provide mutual benefits for investors. He also emphasized that no nation has ever achieved prosperity through the “begging bowl” or aid, but rather through sacrifice and hard work.
“Gone are the days when I will go to a brotherly country with a begging bowl. I have broken that bowl. The bowl will lead us nowhere. When was the last time that a country prospered through aid and bowls?” he said adding that the government plans to impart the highest standard of vocational training to workers so that they come to UAE and make a good livelihood.
The UAE’s step will mark a significant step forward in strengthening bilateral relations between the two countries. Similarly, Saudi Arabia earlier has pledged substantial investments in Pakistan. The Islamic Republic of Iran also pledged to enhance bilateral trade with Pakistan by up to 10 billion US Dollars in five years. Recently the Deputy PM and Foreign Minister also visited China and invited Chamise companies to come and invest in this country. Regarding attracting foreign investments in Pakistan, the government has proven so far well. Hopefully, it will be successful in catching more investment from the Middle East countries. (By Rana Kashif)
