The United Arab Emirates (UAE) intends to invest $1 billion in Pakistani companies in various economic and investment sectors, reported WAM, the official news agency of the Emirates.
The move aims to explore new investment opportunities and areas for cooperation in projects across various sectors to expand bilateral economic relations in the best interest of the two countries, said WAM.
Citing an unnamed official source in Abu Dhabi, the news agency said that UAE and Pakistan are keen to continue cooperation in various fields, which include gas, energy infrastructure, renewable energy, health care, biotechnology, agricultural technology, logistics, digital communications, e-commerce, and financial services.
Chief of Army Staff General Qamar Javed Bajwa spoke with the UAE authorities on Friday. Reportedly, matters pertaining to Pakistan’s deal with the International Monetary Fund (IMF) came under discussion.
Last month, Prime Minister Shehbaz Sharif spoke to the leadership of the UAE and called for enhancing political and economic ties.