Pakistan still has a lot of investment potential, and the UAE has the capacity to invest in these sectors.
A top Pakistani diplomat has said his country has immense investment opportunities, which the UAE can further tap into, naming the petroleum sector, infrastructure development, and the China-Pakistan Economic Corridor as top potential areas.
In an exclusive interview with the Emirates News Agency, WAM, Ghulam Dastgir, Pakistan’s Ambassador to the UAE, stated that Pakistan has “potential” and the UAE has the “capacity” to invest in these sectors, as well as in Gwadar, a port city on the southwestern coast of Balochistan, and Pakistan’s largest infrastructural project since its independence.
His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, arrived in Islamabad on Thursday on a one-day visit to Pakistan.
The UAE government has a number of projects running in Pakistan, including in health and infrastructure under the UAE Pakistan Assistance Programme, UAEPAP. It has also made enormous efforts towards polio eradication in the Pakistan. Yet, the Ambassador said that his country is open to more partnerships.
Tourism is also another important sector, Dastgir pointed out, which can provide a “win-win situation” for both countries. “We have a large community here. Our people are contributing in the development and progress of this country, and it is appreciated by the UAE government,” adding that the prospects for bilateral cooperation is “very strong”.
“What I see is that the economic partnership in the near future and in the distant future will definitely be strengthened between the two countries,” he added.
Dastgir noted that Sheikh Mohamed bin Zayed’s visit to Pakistan is “very important”, citing the close interaction between the leadership of the two countries. “The visit provides an opportunity for the leaderships to discuss all bilateral and multilateral issues of mutual interest.”
He added that since Imran Khan assumed his position as Prime Minister in 2018, he has been regularly in touch with the Abu Dhabi Crown Prince. There is a “personal rapport” between them, he said.
He cited a recent report on Ease of Doing Business in Pakistan, reassuring that investment climate has improved in the country, opening up new investment opportunities. “This visit will boost ties between both countries,” he stated.
As the World Bank Group’s Doing Business 2020 study explains, “due to a concerted improvement in business regulation, Pakistan climbed 28 places and rose to a rank of 108 in the global Ease of Doing Business rankings in 2019 from 136 the previous year.”
“Pakistan is looking forward to have investment from different countries including the UAE,” he concluded.
