Sindh Board of Investment (SBI) and Royal Emirates Group of companies signed a Memorandum of Understanding (MOU) to expand and deepen economic and industrial cooperation and create favorable conditions for investment by businessmen of United Arab Emirates in Sindh Province.
The MOU was signed by Secretary SBI Naheed Shah Durrani and Sulaiman Boti, Project Manager of the Royal Emirates Group of Companies in Dubai, says a message received here. Sheikh Butti Bin Suhail Al Maktoum of UAE chaired the MOU signing ceremony.
Zubair Motiwala, Chairman Sindh Board of Investment while talking to the media after the signing ceremony said that in order to mutually promote trade and investment cooperation between Sindh province of Pakistan and United Arab Emirates, Sindh Board of Investment and the Royal Emirates Group according to the principles of equality and mutual benefit, have agreed to promote the development of bilateral economic relations.
The MOU will provide a platform for businessmen to meet, discuss and explore business opportunities in trade, investments, transfer of technology, services and other industrial sectors.
He said that they have agreed to regularly exchange information/publications and materials concerning economic development, foreign trade and investment policies of their respective countries and will assist each other in organizing business delegations, and facilitating their business interest.
Sulaiman Boti said that they are very pleased to enter into this mutual understanding with the Sindh Board of Investment which, he said will provide them opportunities to tap the immense resources of the Sindh Province of Pakistan.
He pointed out that SBI will also assist Royal Emirates Group in development of Pak Arab Skill Development Centre in Sindh to train Pakistanis and find them suitable jobs in the United Arab Emirate.
SBI will also assist Royal Emirates Group in developing 10 MW Solar Power Plant in Sindh to help reducing the power shortage in Sindh Province and in developing Bilge Water Treatment Plant at Port Qasim Karachi to meet the environmental requirements of the port, he added.
Royal Emirates Group will also develop an Agriculture Research Centre in Sindh, Sulaiman pointed out. Royal Emirates Group of Companies is an emerging leading group with diverse business interests in the local and international markets.
Formed and chaired by His Royal Highness Sheikh Butti Bin Suhail Al Maktoum, the Royal Emirates Group has practically mirrored the development of modern Dubai, standing tall as one of the country’s most dynamic business groups today.
Ably guided by the visionary leadership of His Highness Sheikh Mohammad Bin Rashid Al Maktoum, the group has emerged as a valuable contributor to the development of United Arab Emirates.