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Investment Minister for capitalizing relations with UAE

Daily Mail | 16 January 2009
By Saad Ahmed

ISLAMABAD—Federal Minister for Investment, Senator Waqar Ahmad Khan, here on Thursday stressed the need for capitalizing friendly relations between United Arab Emirates and Pakistan by enhancing partnership in mutual business and trade.

"Pakistan and United Arab Emirates enjoy close brotherly relations and share commonality of views on host of issues and there is need to capitalize these friendly relations," he said while talking to UAE Ambassador, Saif Sultan Al-Awani at his office.

Senator Waqar said that the new Investment policy for the next 10 years is on cards which would be prepared with the consultation of private sector.

He said that the local and foreign investors are welcome to benefit from investment friendly policies adding that the government was extending all possible facilities to investors.

He expressed the hope that Investment Ministry would be able to fetch unprecedented foreign investment in various sectors of the economy.

Pakistan has become a destination of choice for foreign investment and the government is committed to provide full legal cover to the investment, he said adding that the government was also providing tax exemption and facility of duty free import of machinery.

Senator Waqar said that the Investment Ministry was operating as one window facility for the investors and acts as trouble shooter and facilitator.

He said the government has opened up a number of areas especially oil and gas, energy, power, agriculture and livestock for local and foreign investors.

Ali Saif Sultan Al-Awani told the minister that people and the government of UAE highly value their relations with Pakistan, adding that government and the private sectors of UAE were eager to start joint ventures with Pakistani companies.

The Ambassador also appreciated government's decision of announcing new investment policy, ensuring continuity of policies, adding that it will help foreign investors to benefit from friendly atmosphere.

Senator Waqar said that the new Investment policy for the next 10 years is on cards which would be prepared with the consultation of private sector.

He said that the local and foreign investors are welcome to benefit from investment friendly policies adding that the government was extending all possible facilities to investors.

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