NEW DELHI: The United Arab Emirates ( UAE ) has promised$ 10 billion worth investment in Pakistan’s promising economic areas, Islamabad announced on Thursday. The regions of expense is yet to be specified.
” President of the UAE His Highness Sheikh Mohamed bin Zayed Al Nahyan assured ( Pakistan of ) the UAE’s support in all circumstances and made the commitment of investing US$ 10 billion in multiple sectors”, Pakistan’s Prime Minister’s Office said in a statement.
According to the speech, Sharif emphasized the importance of strengthening tactical cooperation in places such as information technology, solar energy, and commerce.
In an effort to boost its$ 350 billion economy, which has struggled with high inflation and slow growth as a result of severe reforms implemented by the International Monetary Fund ( IMF), Pakistan has been encouraging foreign investment.
To boost its market and increase its dollar reserves, the country requires foreign investment to meet its obligations under its external debt. It is negotiating with the IMF a long-term bailout deal worth up to$ 8 billion.
