Pakistani businessmen have invested about Rs 190 billion or more than 8.7 billion dirhams in the real estate sector of United Arab Emirates (UAE). This was stated by President of Pak-UAE Business Council, Dubai, Iskandar Sultan while welcoming the visiting delegation of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) at a dinner here on Friday.
Pakistani Ambassador to UAE Khursheed Junejo and leading Pakistani businessmen in the Emirates were also present on the occasion. He said that Pakistan had become the top third investor in the UAE real estate sector. He said that more than 6,000 Pakistani companies were operating in the Emirates and contributing to its booming economy.
Speaking on the occasion, leader of the Pakistani delegation Dr Mirza Ikhtiar Baig invited Pakistani companies to invest in Pakistans agriculture, dairy farming, energy, telecommunication sectors along with Textile City and other projects that offered high return on investment.
Earlier in the day, the Pakistani delegation visited Sharjah Chamber of Commerce and Industry, and invited the UAE businessmen to invest in infrastructure, alternate energy and agriculture. Sharjah Chamber President Ahmed Mohammed Al-Midfa, in his welcome address, said that Pakistan could export more food items to Sharjah and the UAE.
"There is also need for joint ventures in food processing between Pakistani and UAE companies," he added. He said that Sharjah Chamber delegation could visit Karachi Chamber and discuss these joint ventures. Dr Baig pointed out that Pakistan offered investment opportunities to Sharjah-based businessmen in corporate farming to produce dairy products, grain and feed for animals as well as fruits and vegetable for export to the UAE and other Gulf countries.
During a visit to Hamriyah free trade zone, leader of Pakistani delegation invited a Pakistani entrepreneur of textile unit, Saftex Group, Farooq Ibrahim Ahmed, to set up units in Karachi textile city. During the visit to Dubai Export Development Corporation (EDC), Dr Baig invited Chief Commercial Officer of Export Credit Insurance Company of Emirates (ECIE) to visit Pakistan and offer credit insurance scheme to Pakistani exporters.
He also invited EDCs Chief Executive Officer (CEO) Engr. Saed Al Awadi to visit Pakistan. Top bosses of other subsidiaries of EDC, including ECIE, DAMAC Properties Company, Dubai Multi Commodities Centre and Jabal Ali Free Zone, were also present on the occasion.
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