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- UAE’s IFZA to invest in several existing projects of Pakistan’s special economic zones, says Prime Minister’s Office
- UAE delegation expresses keen interest in further expanding investment footprint in Pakistan, says Sharif’s office
ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday met a delegation of the UAE’s International Free Zones Authority (IFZA) to discuss investment opportunities in Pakistan’s special economic zones (SEZs), a statement from Sharif’s office said.
Pakistan has attempted to attract foreign investment from regional partners such as China and the UAE through its SEZs. These zones are intended to function as zones of rapid economic growth by using tax and business incentives to attract foreign investment and technology.
Sharif met an eight-member delegation of the IFZA, a UAE business setup authority that provides licensing and regulatory services for companies operating within its jurisdiction, and Aleria in Islamabad, the Prime Minister’s Office (PMO) said. The meeting was attended by IFZA Chairman Martin Gregers Pederson and Ilaria Managing Partner Mana Ali Muhammad Hammad Al Shamsi, along with officials from both organizations.
“Pakistan has vast investment opportunities in several sectors,” Sharif was quoted as saying. “The government is taking steps on a priority basis to provide a business and investment-friendly environment in the country.”
In this handout photo, released by Pakistan Prime Minister Office on March 5, 2025, a delegation of Aleria and International Free Zones Authority UAE gesture during a meeting with Pakistan Prime Minister Shehbaz Sharif in Islamabad on March 5, 2025. (Photo courtesy: Handout/PMO)
The delegation praised Pakistan’s economic stability under Sharif’s leadership and said that the country is emerging as the most suitable market for investment in the region, the PMO said.
“The delegation expressed keen interest in further expanding its investment footprint in Pakistan,” the statement added.
In this handout photo, released by Pakistan Prime Minister Office on March 5, 2025, Prime Minister Shehbaz Sharif witnesses the MoU exchange between International Free Zones Authority of UAE and Board of Investment of Pakistan in Islamabad on March 5, 2025. (Photo courtesy: Handout/PMO)
After the meeting, a memorandum of understanding (MoU) was also exchanged between Pakistan’s Board of Investment (BoI) and the IFZA on investment in Pakistan’s existing SEZs, the PMO said.
UAE’s IFZA will invest in several projects in Pakistan’s existing SEZs, the statement said.
The UAE is Pakistan’s third-largest trading partner after China and the United States and a major source of foreign investment, valued at over $10 billion in the last 20 years, according to the Gulf country’s foreign ministry.
Pakistan and the UAE have stepped up efforts in recent years to strengthen economic relations. Last year the two countries signed multiple agreements exceeding $3 billion for cooperation in railways, economic zones, and infrastructure development.