The United Arab Emirates (UAE) has expressed intentions to invest $1 billion in Pakistani companies in various economic and investment sectors.
According to a report published in the Emirates News Agency, the development aims to explore new investment opportunities and areas for cooperation in projects across various sectors so as to expand bilateral economic relations in the best interest of Pakistan and the UAE.
The report further said that the investment would go toward vital industries like gas, energy infrastructure, renewable energy, healthcare, biotechnology, agricultural technology, logistics, digital communications, e-commerce, and financial services.
On Friday, Chief of Army Staff General Qamar Javed Bajwa contacted the Saudi Arabian and UAE authorities and discussed Pakistan’s deal with the International Monetary Fund (IMF).
The Fund has linked the disbursement of the tranche to the provision of a $4 billion financing gap, which Pakistan seeks to meet from friendly countries.