Pakistan eyes investment pacts with Saudi Arabia, UAE

Pakistan eyes investment pacts with Saudi Arabia, UAE

Pakistan expects to sign investment agreements with Saudi Arabia and the United Arab Emirates in the coming weeks, the prime minister’s office said, as Islamabad builds on its ties with states that have recently lent it billions of dollars, Trend reports referring to Reuters.

A memorandum of understanding was expected with Saudi Arabia this month, with an investment framework accord set to be signed with the UAE in February, Prime Minister Imran Khan’s office said in a statement following a meeting on Wednesday.

The MoUs follow a similar agreement signed last month with China, it said.

The statement gave no details but the daily Dawn newspaper quoted Board of Investment Chairman Haroon Sharif, as saying the investments were likely to be in the oil refining, petrochemicals, renewable energy and mining sectors.

“We are expecting $10-billion-plus Saudi investments and the MoUs to be signed in this regard will not be common or vague but concrete agreements,” Dawn quoted him as saying, adding that Saudi Aramco would invest in an oil refinery and also set up its own refinery in Pakistan.

Sharif said the UAE was interested in agriculture and housing investments and four Malaysian firms were interested in investments in the areas of halal meat, gemstones, information technology and hi-tech education.

The investments would be in addition to a $6-billion package provided to Pakistan by Saudi Arabia and a similar-sized package, made up of loans and an oil payment credit facility, offered by the UAE.

The agreements come as Pakistan has sought to strengthen its public finances and reduce its current account deficit, which a report from the International Monetary Fund in November estimated to stand at 5.9 percent of gross domestic product in 2018.

Azerbaijan wants peace, also territories that rightfully belong to it - President Aliyev
Azerbaijan wants peace, also territories that rightfully belong to it - President Aliyev
Full responsibility for what is happening now lies squarely with Pashinyan, says Azerbaijani president
Full responsibility for what is happening now lies squarely with Pashinyan, says Azerbaijani president
We are offered to make concession to Armenia, unilateral concession, while nothing being offered in return - President Aliyev
We are offered to make concession to Armenia, unilateral concession, while nothing being offered in return - President Aliyev
Loading Bars
Latest
Azerbaijan wants peace, also territories that rightfully belong to it - President Aliyev
Full responsibility for what is happening now lies squarely with Pashinyan, says Azerbaijani president
We are offered to make concession to Armenia, unilateral concession, while nothing being offered in return - President Aliyev
Azerbaijan ready to suspend military operations, resolve issue at negotiating table - President Aliyev
Armenia’s terrorist authorities must be punished – Azerbaijani MP (VIDEO)
Georgia, UK aim to strengthen business and commercial ties
Volume of market services in Uzbekistan’s transport sector remains predominant despite decrease
Azerbaijan to issue support for children who lost parents after Armenia's Ganja attack (PHOTO)
Turkey raised wood, furniture exports to Russia - Trade Ministry
Heads of Christian religious communities of Azerbaijan protest against draft resolution submitted to US Congress
TANAP named Project of the Year by US-based PMI
Eni Turkmenistan Limited opens tender related to data transmission services
Tajikistan's import of Turkish furniture down
Demand for Azerbaijani CBA's short-term notes exceeds supply
Value of goods exported from Iran's Sistan and Baluchestan Province revealed
Turkic Council condemns Armenia's attacks on populated areas, civilians in Azerbaijan
Azerbaijani ASB Bank's 3Q2020 assets down
Turkmen company considers opening production facility in Kazakhstan
Armenian aggression against innocents in Azerbaijan - condemnable offense, says Pakistani expert
Turkey's wood, furniture exports to Pakistan edge lower
Kazakhstan increases imports from Switzerland
Azerbaijan destroys another Armenian UAV - Defense Ministry
Azerbaijan's Prosecutor General's Office warns foreign citizens (VIDEO)
Georgia announces its plan about Tskaltubo spa resort
Azerbaijan reveals data on airfreight operations for 9M2020
"Together we are POWER": ENGINET supports injured children in Ganja city (FOTO)
Precious metal prices in Azerbaijan rising
Volume of gas pumped into Serajeh gas storage facility in Iran soars
Azerbaijan's railway cargo transportation down within 9M2020
Value of wood, furniture exports from Turkey to Uzbekistan down
Hungary reiterates its support for Azerbaijan's territorial integrity
Kazakh coal extracting venture opens tender to buy electricity generating unit
Kazakhstan’s Oil Construction Company to buy pipes via tender
Tashkent Stock Exchange's trade volume increases
State Commercial Bank of Turkmenistan holds another campaign to increase cashback
Сontracted capacity of Enagas storage facilities reach 100% of available supply
Uzbekistan’s car production up within 9M2020
Volume of electricity generation up in Uzbekistan
Azerbaijani ASB Bank's net income drops
Azerbaijani FM leaves for Moscow
Iran declares number of enterprises restored in Qom Province
Azerbaijan has enough resources to quickly restore economic growth rates - CBA's chairman
SOCAR among TOP importers of gasoline to Ukraine
Azerbaijan announces latest data on civilian casualties, damages caused by Armenia's attacks
Georgia reports 1,351 new coronavirus cases
Indian Monnet company looking to launch ferrosilicon production in Kazakhstan’s Pavlodar
Azerbaijani MoD shows footage of newly-liberated Chereken village (VIDEO)
GTL may help companies increase their portfolio of higher value finished products
Turkmenistan plans to buy medical helicopters from Russia’s Tatarstan
Georgia talks about main road construction projects
Battalion of Armenian Armed Forces' 556th regiment neutralized - Azerbaijani MoD
Cotton fiber production increases in Uzbekistan
China's import of Turkish wood, furniture surges
Azerbaijani oil prices decrease
It's wrong to compare economically strong Azerbaijan with Armenia, Trend's editor-in-chief on Al Jazeera TV (VIDEO)
President's aide talks about Armenian attacks on Azerbaijani cities on Oct. 20
Gasoline production increases in Uzbekistan
Jet fuel consumption to return to 2019 demand levels in 2025
Kazakhstan to amend state budget due to COVID-19 preventive measures
Georgia talks about ongoing, future projects in construction area
Night, day artillery firings of Azerbaijani Armed Forces (VIDEO)
UK keen to support Azerbaijan to develop renewable energy sphere
Turkmenistan considers measures to prevent entering of COVID-19 into country
Investments in Kazakhstan's agriculture surge
Azerbaijani currency rates for Oct. 21
Armenia must forever forget Khudafarin, says Azerbaijani MoD
First regular international freight train departed from China to Uzbekistan
Information on shot down Azerbaijani military plane - lie, says Defense Ministry
Kazakhstan's revenue from transport via pipelines down year-on-year
EU launches new initiative to support small and medium-sized firms in Georgia
Azerbaijan's Azercosmos shows satellite images of newly-liberated Zangilan city
Major General of Azerbaijani Interior Ministry passes away
Iranian currency rates for October 21
Member of the Nizami Ganjavi International Center, former President of Ecuador publishes article in Ecuador ElTelegrafo newspaper
Number of coronavirus cases in Uzbekistan approaches 65,000
Armenian Armed Forces' artillery chief, division, batallion commanders neutralized - MoD
Turkmenistan, India intend to hold regular meetings
Incurring losses, Armenian troops forced to retreat, Azerbaijani MoD says
Azerbaijan eyes to introduce domestic products to Arab markets
New power plants construction in Azerbaijan to allow export of electricity
Oil prices slip as U.S. inventory build stokes fears of supply glut
Turkey's furniture and timber exports to Kyrgyzstan down
MP states need to create Agrarian Bank of Azerbaijan
Azerbaijani Defense Ministry gives update on current hostilities
Strategy for long-term development of Azerbaijan energy sector to be developed until 2050
Foreign investors to invest about $400 million in renewable energy projects in Azerbaijan
Azerbaijan to put banknotes with updated design into circulation (PHOTO)
Express Bank reduces its net profit
Armenian armed forces shelling Azerbaijani Tartar district
Spain considering curfews to tackle new wave of coronavirus
Association of Restaurants demands meeting with PM
TOGG partners with Farasis for li-ion battery production in Turkey
Iran exports over $30 billion worth of goods in 6 months
Earthquake reported 386km away from Almaty
Sarajevo mayor underlines urban cooperation with Tehran
China's 2020 auto production and sales could return to 2019 levels
Amazon extends work from home option till June
Can Tesla hit 2020 delivery goal? Investors watch for Musk steer
Fiancee of Khashoggi, human rights group sue Saudi crown prince in U.S.
Iraqi security forces find 50 bodies in mass grave in Kirkuk
All news