United Arab Emirates President Sheikh Mohamed Bin Zayed Al-Nahyan on Thursday committed to investing $10 billion in multiple sectors of the Pakistani economy.
A statement released by state-run Pakistan Television on X said the development came during a meeting in Abu Dhabi between the UAE president and Prime Minister Shehbaz Sharif, who is on a day-long visit to the UAE.
The statement added that Sheikh Mohamed “assured UAE’s support in all circumstances and committed to investing $10bn in multiple sectors in Pakistan.”
Strengthening Bilateral Relations
PM Shehbaz thanked the UAE leadership for hosting the 1.8 million-strong Pakistani diaspora. He highlighted Pakistan’s “huge human resource potential” that could be engaged in various sectors.
The meeting provided an opportunity to discuss bilateral relations, including cooperation in political, economic, social, cultural, and defense sectors. The prime minister emphasized the importance of enhancing cooperation and strengthening the strategic partnership, especially in IT, renewable energy, and tourism.
PM Shehbaz underscored the government’s steps to ensure socio-economic stability and build investor confidence. He reiterated Pakistan’s commitment to implementing investment cooperation agreements in energy, port operations, wastewater treatment, food security, logistics, minerals, and banking and financial services.
Focus on Collaboration, Not Loans
Earlier, PM Shehbaz clarified that his visit aimed to seek collaborations and investments, not loans. Addressing an IT community round table in Abu Dhabi, he emphasized the mutual benefits of joint ventures and the importance of empowering Pakistan’s youth with modern skills.
He stated, “Gone are the days when I will go to a brotherly country with a begging bowl; I have broken that bowl.” He stressed that prosperity comes from collaboration, not aid.
In his meeting with the UAE president, PM Shehbaz requested trainers to help train Pakistani people. He expressed his commitment to transforming Pakistan’s economy through joint ventures, collaborations, and knowledge-sharing partnerships.
PM Shehbaz noted the progress made in Pakistan’s IT sector and the country’s potential, with almost 60% of the population being youth. He praised the UAE president for his vision of a diversified economy and appreciated his support for Pakistan.
State Minister for IT Shaza Fatima Khawaja also addressed the event, highlighting the collaboration’s potential benefits.
