UAE investors eye cement, steel sectors
11 September, 2012
LAHORE: UAE investors are planning to make investment in Pakistan in different sectors of economy including cement and steel sectors.
The Chairman Zarooni Group of Companies, Faisal Mohammad Abdul Karim Al Zarooni, who was accompanied by Leader of the House in Senate, Senator Jehangir Badr, was talking to LCCI President Irfan Qaiser Sheikh. Senior Vice President Kashif Younis Meher and Vice President Saeeda Nazar also spoke on the occasion.
He said that there is no doubt that UAE and Pakistan enjoy excellent relations between them with bonds of religion, history and culture, and Pakistan was the first country who recognised the UAE. There is deep cooperation between the two countries in all fields especially in economic and trade sectors.
The Chairman Zarooni Group of companies said UAE is the second largest investor in various sectors of Pakistan including banking and real estate, energy, infrastructure, telecommunications, ports, housing and aviation.
Faisal Mohammad Abdul Karim Al Zarooni said that raw material import from Pakistan is cheaper than China therefore the UAE investors are giving preference to Pakistan.
Leader of the House in Senate Senator Jahangir Badr said that both the countries have huge potential to increase bilateral trade & investment. Therefore, the investors of both the sides should join hands to tap this potential.
Speaking on the occasion, the LCCI President Irfan Qaiser Sheikh said that deep friendly ties exist between Pakistan and UAE and both sides are unison on various international issues. He said that United Arab Emirates is a big economic and trade partner of Pakistan and bilateral economic relations are further expanding with the passage of time.
He said that Lahore Chamber of Commerce and Industry would be more than willing to facilitate all the UAE investors if they plan to put their money in any new venture in Pakistan.
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