Vice-President and Prime Minister of the UAE, and Ruler of Dubai, Shaikh Mohammed bin Rashid Al Maktoum is now visiting Pakistan and his visit is very important for Pakistani economy. In the last few hours, I found several news items in different websites about the huge investment that UAE companies are going to make in Pakistan in the coming days. Dubai based companies have made a commitment of $30 billion of investment in Pakistan. Emaar Properties will invest $20.4 billion in the real estate sector and Pakistan's port city and economic hub, Karachi will mainly get this investment. On the other hand, Dubai World may invest $10 billion in infrastructure developments, industrial and real estate projects.
Last year, Pakistani economy had only $2 billion of foreign investment and this today's news is really something to celebrate for Pakistani government. However, I am not too much excited with and I would have been happier if this investment came into another sector instead of real estate. Still, this is a good sign for Pakistan and now other foreign companies will feel interested about investing in the country.
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Tracked on: June 3, 2006 10:31 AM | Permalink to Trackback