Under a new development, the United Arab Emirates (UAE) intends to invest $1 billion in Pakistani companies across various sectors. The good news came at a time when Pakistan desperately needed foreign investment. The new investment opportunity can prove a panacea for all economic woes of the country.
Earlier, the PML-N government was trying hard to pursue friendly states to step forward in order to rescue the ailing economy of the country. The efforts have likely to start bearing results in the form of potential investment offers from the Middle East. Pakistan and UAE already enjoy historical relations and the latter has always helped the former in the need of the hour. The UAE has already funded a number of infrastructure development works in northern areas of the country. Moreover, the UAE is also one of the largest sources of foreign remittances for Pakistan. The UAE government’s generosity in the form of extending investment offers has provided much-needed solace to the Pakistani economy.
On the other hand, the UAE is also in search of new investment avenues in the tourism, energy and pharmaceutical sectors. There is no dearth of opportunities for investors to make good use of their wealth by promoting their business in various sectors in Pakistan. Pakistan offers an ideal climate as it has all four seasons, rich natural resources with tourism attractions and vast industrial scope as well as it has a strategically important geographical location. However, this amalgam of resources has not been fully exploited yet. The government needs to fully take benefit of this potential and earn much needed foreign exchange. There is a need to create an atmosphere where no one feels hesitant to come and make an investment in the land of pure. Work needs to be done at a larger scale at the government level for formulating such policies that facilitate the business community in Pakistan and overseas. Hopefully, the renewed business relationship between the UAE and Pakistan will yield some positive results and open new avenues of investment in Pakistan. Arguably, this is a first step towards attracting investment in the country. Pakistan needs to tap this opportunity through proper follow-up. In the current age, the business scenario is changing at a rapid pace. The world has turned into a global digital village, where contacts are being developed worldwide. Different cultures and communities are intermingling and remain in search of places to live and make their fortunes.
Industries like automobiles, cell phones, agriculture products, renowned eateries, electronics, tourism and many more are available and offer an ideal atmosphere. Investment, investment and more foreign investment that is what needed Pakistan the most to sail through the prevailing economic crunch amid ever-increasing trade deficit.
