DP World, the Dubai-based global port operator working at Karachi port, is working to set up an industrial park in Pakistan to attract global investors due to the country’s geographically ideal location and strong economic fundamentals.
“Pakistan’s economy has strong fundamentals, resources and an ideal location,” DP World Owner and Chairman, Sheikh Sultan Ahmed Bin Sulayem said while addressing the media. The DP chairman also informed the audience that the company is donating millions of dollars in flood relief to Pakistan.
Countries in the far East are considering relocating their industries to Pakistan in order to cut down high production costs. China has also now become an expensive market for production in the region due to rising wages.
“Pakistan is an ideal location and we are working to open an industrial park in Pakistan,” stated Sulayem.
He further explained that the country has “natural resources and a highly educated talent pool. Pakistan thus possesses huge economic potential despite the current flood crisis in the country.”
Sulayem emphasised that the floods in Pakistan, and the resulting devastation, is a “wakeup call for everyone.”
“We are committed to reducing the carbon footprint and the UAE government stands with Pakistan in these testing times,” he added.
The DP World chairman said he would personally visit flood-affected areas to assess the situation and help victims. During his visit, he is scheduled to call on President Arif Alvi and Chief of Army Staff General Qamar Javed Bajwa.
“We will work with the army. They are well-qualified and well-trained to help people out in the flood areas,” he stated. The total worth of donations remains undisclosed. Sulayem mentioned, however, that the donations would include food, tents and blankets.
The heavy rains and flash floods have destroyed, either completely or partially, approximately two million houses and dozens of roads, railways and bridges nationwide. Pakistan produces less than one-percent of global greenhouse gas emissions but its geography makes it extremely vulnerable to climate change. The government has estimated losses amounting to $30-40 billion due to the floods.
Published in The Express Tribune, September 24th, 2022.
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