UAE firms to make long-term investment in Pakistan

Pakistan is a growing market and United Arab Emirates (UAE) based companies operating here are being touted to make long term strategic investment. UAE Expo 2011, besides targeting manufacturing, trade, services, investment and tourism sectors, will strengthen public and private sector ties between the two countries. These views were expressed by speakers at “UAE trade and investment conference” held at Karachi Expo Centre. The international conference was held in collaboration with Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on the second day of the expo. Pakistani Ambassador in UAE Jamil Ahmed Khan advised Pakistani businessmen to take full advantage of opportunities in Emirates for re-export business. He said 40 per cent of exports to UAE are re-exported to African countries. He said Pakistani exports to UAE can be enhanced from 2 per cent of UAE’s global trade to 6 per cent with the help of planned efforts. Current bilateral trade between UAE and Pakistan is over $7 billion. CEO of Karachi Electric Supply Company (KESC) Tabish Gauhar said management of Dubai based firm Abraaj Capital has already invested almost $500 million in the city’s power company while many projects have already been completed. The 560-MW Combined Cycle Power plant which would be completed by next year, KESC has also stuck a deal with a foreign firm to get power from Thar Coal, he added.
President and CEO of Pakistan Telecommunication Company Ltd (PTCL) Walid Irshaid said that his company will make more investment in Pakistan to fully transform PTCL into a world class telecom company.
“We have transformed PTCL into a modern company offering all ICT products in Pakistan and we are here to stay,” he said while sharing the experience of his company in Pakistan and investment opportunities.
He said Pakistan is a growing market and we are making long term investment to offer world class network to local consumers who are quality conscious. Regional general manager Asia Pacific North and Indian sub continent Etihad Airways, Joost den Hartog said his airline was doing great in Pakistan. We are running daily flights from Karachi, Islamabad, Lahore to UAE and twice a week from Peshawar. We are planning to enhance our operations in Pakistan in future he noted.