Friday, September 22, 2023

Pakistan Likely to Receive $20 Billion in Investments from Saudi Arabia, UAE and Qatar

Pakistan is expected to receive around $20 billion in investments from Saudi Arabia, United Arab Emirates (UAE), and Qatar in various sectors, according to Rana Ihsan Afzal, a coordinator to Prime Minister Shehbaz Sharif on commerce and industry. To attract investments from Gulf Cooperation Council (GCC) countries, Pakistan has created a Special Investment Facilitation Council (SIFC).

The SIFC has several main objectives. Firstly, it serves as a central point of contact for cooperation with GCC nations and other countries. Secondly, it aims to develop a long-term roadmap for growth and investment. Additionally, the council aims to raise awareness about Pakistan’s potential, identify new opportunities, improve the ease of doing business, and collaborate with the Pakistan Army to support its goals.

The SIFC primarily focuses on attracting investment and facilitating privatization in sectors such as Defense, Agriculture, Minerals, Information Technology and Telecommunication, and Energy. By establishing the council, Pakistan aims to strengthen its economy by forming strategic partnerships and attracting investments from important Gulf countries.

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