Business

Real estate: UAE refuses to provide investors’ data

Joint ministerial commission to meet in Abu Dhabi in mid-November.

Irshad Ansari November 04, 2011

ISLAMABAD: The United Arab Emirates (UAE) has turned down Pakistan’s request for providing data about investment made by Pakistanis in UAE’s real estate and Islamabad will take up the matter during Pak-UAE ministerial commission talks in Abu Dhabi in mid-November.

According to documents, the UAE has sent proposed agenda of the meeting to Pakistan’s Foreign Office so that it can be finalised with input from Islamabad.

The two countries will take up a 10-point agenda, in which laws and regulations governing investments between the two countries will be on top. During the talks, UAE investors will be encouraged to invest in Pakistan’s infrastructure sector, which needs huge resources in the face of flood damages over two years and gas and electricity shortages.

In order to promote private investment in the two countries, the proposal for creation of a joint investment company will be reviewed. They will also discuss a proposal about cooperation in science, research and environment-friendly technology.

The issue of exchange of information about commercial exhibitions will be on the agenda as well.

Preparations for the first meeting of recently established Pakistan-UAE Business Council will also come up for discussion while UAE’s interest in Pakistan’s agricultural sector will also be on the negotiating table.

The two sides will consider exchange of information between their customs departments and how to resolve the certificate of origin issue between the two departments.

Cooperation between banking sectors of the two countries and curbs on money laundering and terrorist financing will also be on the agenda.

Published in The Express Tribune, November 5^th, 2011.

COMMENTS (2)

EmmanUel | 12 years ago | Reply

There are alot of land in nigeria I will be happy if you can come to african to invest your money and I promise you, you will make your money back in due time.. Location like Lekki, ikorodu, Ibadan express road... So on like that

Has | 12 years ago | Reply UAE sheikhs specially Al Nahyan family of Abu Dhabi and Al Maktoum family of Dubai encourage black money from India, China, Europe, Pakistan, Africa Latin American to be invested in their countries real estate. The black money is looted or made through dubious scams by all major state holders in third world or first world countries.Sheikhs get share of it. They would never reveal the name of investors who have invested in their so called economy. IT would surely PPP, PML all factions, MQM, Mullahs, Army serving and retired, beauracrats. Pakistan government under the leadership of Zardari is the most corrupt government in the world and now we are even below than lot of African countries in governance, health, education lifestyle, food and health.

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