Monitoring Desk: “The Special Investment Facilitation Council (SIFC) plays a pivotal role in streamlining investment processes by offering a one-window operation to investors. Recognizing the need for swift and hassle-free solutions, SIFC effectively addresses previous gaps, ensuring a more efficient and investor-friendly environment”.
This was said by Pakistan’s Ambassador in UAE, Faisal Niaz Tirmizi, in an interview in which he explained the government’s steps to further enhance Pakistan-UAE relations as well as broad-based economic initiatives taken by the government of Pakistan.
It is pertinent to mention that SIFC is an initiative of COAS Gen Asim Munir and Prime Minister Muhammad Shehbaz Sharif, who jointly launched this in June 2023.
Responding to questions, Ambassador Tirmizi stated that the strong foundation of Pakistan-UAE relations was laid in the 1960s by His Highness Sheikh Zayed bin Sultan Al Nahyan during his tenure as the Governor of Al Ain. Since then, both nations have prioritized strengthening bilateral ties, with a particular focus on enhancing economic cooperation and investment. Key areas of collaboration include expanding Pakistan’s exports to the UAE and fostering investment opportunities in vital sectors such as banking, finance, energy, food and agriculture, logistics, infrastructure, and port operations.
When asked about the opportunities available for Pakistan in UAE, Ambassador Faisal Niaz Tirmizi was of the view that as the UAE’s third-largest trading partner, Pakistan presents numerous investment opportunities, particularly in high-potential sectors such as:
– Renewable Energy –Leveraging Pakistan’s growing demand for sustainable energy solutions.
– Banking & Financial Services (Fintech)– Expanding digital financial ecosystems.
– Shipping & Logistics– Capitalizing on Pakistan’s strategic location and the potential of Dubai and Karachi ports as regional trade hubs.
– Mining– Tapping into Pakistan’s vast mineral resources.
– Healthcare & Pharmaceuticals– Enhancing collaboration in medical research and production.
– Railways & Aviation – Modernizing transport infrastructure.
– Hospitality & Tourism– Boosting sector growth.
– Information Technology (Cybersecurity & AI)– Fostering innovation and digital transformation.
These sectors hold immense potential for UAE investors seeking long-term growth and mutual economic benefits.
“Pakistan and the UAE share strong and historic relations, marked by growing economic and strategic cooperation. Recent high-level engagements, including the visit of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, have further strengthened this partnership, with a focus on investment-driven collaboration. Multiple trade agreements signed during these visits reflect our shared commitment to deepening economic ties”, commented the Pakistani envoy in UAE.
In his message to the Pakistani diaspora in UAE said that the Pakistani community in the UAE should:
- Adhere to Local Laws & Customs– Respect UAE’s legal framework, including labor, immigration, and civil and business regulations, as well as cultural sensitivities.
- Be Model Ambassadors– Positively contribute to both nations’ development and uphold Pakistan’s reputation.
- Use Legal Channels for Remittances– Ensure secure and transparent financial transactions.
- Stay Informed– Be mindful of cyber laws and social media regulations to avoid inadvertent violations. To assist our expatriates, we have developed a comprehensive 14-minute tutorial video covering essential guidelines, including dos and don’ts for those residing in or planning to visit the UAE, explained Pakistan’s envoy in UAE.
When asked to comment on UAE’s investments in Pakistan, Ambassador Tirmizi mentioned that there are (were) nearly 19 Emirati companies operating in Pakistan. UAE has invested in the sectors of communications, services, tourism, information technology, oil and gas, housing, banking, and real estate in Pakistan and has branches of its giant companies, such as Etihad Airways, Emirates, Emaar, and Dubai Islamic Bank. The Abu Dhabi Group purchased Al Falah Bank and UBL Bank, and Dubai Islamic Bank and opened a branch in Pakistan alongside Emirates International Bank. Emirati Telecommunications also purchased some shares of the Pakistan Telecommunications Company for an amount exceeding $2 billion, while the Abu Dhabi Ports Company and DP World signed recent agreements, including port operations and the development of Karachi Port Trust KPT and railway infrastructure.
He stated that the United Arab Emirates has invested in communications, services, tourism, information technology, oil and gas, housing, banking, and real estate sectors in Pakistan. 19 Emirati companies are operating in Pakistan, including Etihad Airways, Emirates, Emaar, Dubai Islamic Bank, Fly Dubai, Air Arabia, DP World, AD Ports, and E& etc. The UAE companies have investments in UBL, Bank Al Falah and PARCO as well.
It may be mentioned that the UAE has become a window for showcasing Pakistan’s economic potential globally, as Ambassador Faisal Niaz Tirmizi, under the direction of Prime Minister Muhammad Shehbaz Sharif and following the guidance of Foreign Minister Ishaq Dar, is arranging seminars, B2B meetings of investors, traders, businessmen and securing Pakistan’s place in international expos, festivals and galas.
