Islamabad: The United Arab Emirates (UAE) on Tuesday (August 09) announced an investment of USD 1 billion in various companies and sectors in Pakistan, news sources reported. The investment will be made in the fields of gas, energy infrastructure, renewable energy, and health care.
Following the announcement, Prime Minister (PM) Shehbaz Sharif called UAE President Sheik Mohamed bin Zayed Al Nahyan and expressed his gratitude for the investment announcement. The PM said the investment would deepen bilateral ties and boost trust between the two countries. PM Shehbaz added that FDI from friendly countries is crucial for the country’s economy and would help improve economic conditions. On the occasion, both parties expressed their concern over the country’s flood situation.
It is worth noting that Pakistan is now negotiating the 7th and 8th loan tranches with the International Monetary Fund (IMF). The cash flow will improve the investment environment and might attract funds from friendly Gulf countries to enhance the country’s economic situation.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
