Pakistanis estimated to have Rs190b investments

DUBAI (APP) - 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 the president of Pak UAE Business Council Dubai Iskandar Sultan while welcoming the visiting delegation of FPCCI here at a dinner on Friday.
Pakistani Ambassador in UAE Khursheed Junejo and leading Pakistani businessmen in the Emirates were also present on the occasion.
He said that Pakistan has become the top third investor in the UAE real estate sector.
He said that more than 6000 Pakistani companies were operating in the Emirates and was greatly contributing to its booming economy.
Leader of the Pakistani delegation Dr. Mirza Ikhtiar Baig on the occasion invited Pakistani companies to invest in Pakistan's agriculture, dairy farming, energy, telecommunication sectors alongwith textile city and other projects that offer high return on investment.
Earlier, in the day, Pakistani delegation visited Sharjah Chamber of Commerce and Industry and invited investment from UAE businessmen in infrastructure, alternate energy and agriculture. President Sharjah Chamber, Ahmed Mohammed Al-Midfa in his welcome address said that Pakistan can export more food items to Sharjah and UAE. There is also need for joint ventures in food processing between Pakistani and UAE companies, he added.
He said that Sharjah Chamber delegation can 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 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 CEO of EDC 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.