*The United Arab Emirates (UAE) is planning to invest one billion dollarsin Pakistan’s economic and investment sectors, quoting an official sourcein Abu Dhabi the state news agency has reported.*
The move aims at exploring new investment opportunities, expandingbilateral economic relations and to enhance mutual cooperation in projectscovering various sectors of the economy.
The UAE investment will likely be channeled to key sectors including gas,energy infrastructure, renewable energy, healthcare, biotechnology,agriculture technology, logistics, digital communications, e-commerce andfinancial services.
The UAE is Pakistan’s largest trading partner in the Middle East and amajor source of investments and remittances.
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The trade volume between the two countries amounted to $8.19 billion (Dh30billion) in 2019. Both countries also have significant investments invarious sectors in each other’s economies such as real estate.
The move is expected to help in revival of investor sentiment in thecountry. As an IMF package becomes clearer, the sentiment has improved.
