Qatar plans investments in Pakistan for next 10-15 years

Delegation expresses interest in PM’s housing project, CPEC

Our Correspondent April 02, 2019
The commerce adviser encouraged the Qatari companies to form joint ventures with foreign and local companies to become a part of the global value chain. PHOTO: APP

ISLAMABAD: Qatar is planning various projects in Pakistan with an investment horizon of next 10-15 years, said Qatar Investment Authority head Sheikh Faisal Bin Thani Al-Thani.

In a meeting with Adviser to PM on Commerce Abdul Razak Dawood, he said, “We are looking for a long-term partnership and not quick wins.”

Speaking on the occasion, Dawood welcomed the delegation saying that Pakistan desires to have a long-term economic and strategic relationship between the two nations.

He recalled that Prime Minister Imran Khan himself had led a delegation to meet the Emir of Qatar in January. Following the premier’s visit the Board of Investment had organised a Pakistan-Qatar Investment Forum between the business communities of the two countries in March, he remarked, adding that these high-level visits had borne fruit and resulted in this meeting, to reaffirm commitment, discuss specific projects and further consolidate ties.

Specific projects were discussed in areas of aviation services, tourism, infrastructure development, power generation, water management, agro industries and tourism across the country.  The delegation showed a keen interest in prime minister’s housing project. The officials also expressed interest in supplementing the China-Pakistan Economic Corridor (CPEC) investments.

The commerce adviser encouraged the Qatari companies to form joint ventures with foreign and local companies to become a part of the global value chain. He further said that the Qatari companies have immense potential to supplement the CPEC projects and stimulate industrialisation in the country.

Also present in the meeting, Board of Investment (BOI) Chairman Haroon Sharif informed the delegation that the government of Khyber-Pakhtunkhwa (K-P) has developed a master plan for nature tourism with technical assistance from a Swiss firm. These projects are available to developers.

Moreover, the PM adviser informed the delegation that with investment in the tourism sector, Qatar could enjoy a first mover’s advantage. He said that as a result of renewed confidence in the new government, large investments were in the pipeline from other countries, including China, Malaysia and Turkey.

The Qatar-Pakistan bilateral trade volume is set to witness a major boost in the coming days as Hamad Port has established direct shipping links to Karachi and other ports in Pakistan, he said

Dawood was hopeful that the bilateral economic relations are expected to expand further as private companies from both sides are exploring trade and investment opportunities aggressively.

After the recent visit of a Pakistani mission to Doha, Qatari companies have signed a number of agreements with their Pakistani counterparts to import goods from Pakistan, including fruits, vegetables, fresh meat, chicken other poultry and dairy products.

Published in The Express Tribune, April 2nd, 2019.

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