Re: $43bn direct investment from UAE!!! (merged)
is it true what m2k has written about environmental impact? while fdi may feel good, ruining the environment will be the story of the goose that laid golden eggs.
Re: $43bn direct investment from UAE!!! (merged)
See the two Islands I have circled. Those Islands are being developed. See all that green stuff those are Mangroves.
Re: $43bn direct investment from UAE!!! (merged)
Yes, the Emaar Properties of the UAE is embarking on billions of dollars of Real Estate projects in Pakistan, epecially in Islamabad, but also Karachi, Lahore and elsewhere.
**Emaar Pakistan **
In May 2006 Emaar announced three real estate developments in the cities of Islamabad and Karachi in Pakistan. The projects, with a total investment of AED 8.8 billion (US$2.4 billion), will include a series of master planned communities that will set new standards in commercial, residential and retail property within Pakistan. All three projects are expected to be completed in the next four to five years.
The Highlands and Canyon Views, Islamabad
Two projects with 1,500 acres between them, offering 9,000 luxury single-family town homes and villas in a range of architectural styles with easy access to amenities including retail centres, community club houses, parks, lakes, schools and mosques. The Highlands development is located within the Defense Housing Authority Islamabad (DHAI) Phase 1 extension and Canyon Views within the DHAI Phase 2 extension. Offering 50 separate community districts with their own individual identity, a spectrum of architectural styles ranging from Mediterranean, Tuscan, Mughal, Arabic and Spanish, will be available to select from.
Crescent Bay, Karachi
A 75 acre development featuring high and mid-rise towers for residential and commercial use, a shopping centre and five star beachfront hotel. The towers will contain 4000 residential apartments. Crescent Bay is located within Karachi’s DHA Phase 8 and in close proximity to the DHA golf course. It will offer individual architectural styles for each tower within the development.
Re: $43bn direct investment from UAE!!! (merged)
Just another point to urge that Pakistan still needs to stand on its own legs.
Re: $43bn direct investment from UAE!!! (merged)
^^^ now whats the problem with investment for development in the country??
na khelna na khalney dena. is that your moto?
Re: $43bn direct investment from UAE!!! (merged)
^
Foreign investment is good for Pakistan.
The UAE has alone invested moa staggering $ 9.5 billion in Pakistan over the past four years, with total investment expected to reach $ 15 billion this year.
Re: $43bn direct investment from UAE!!! (merged)
FDI in Pakistan is on a roll. GoP is set to shatter the target $4bn this year and his $5bn, as per these sources.
Re: $43bn direct investment from UAE!!! (merged)
We now have Foreign Direct Investment flooding in from all over the world - the Middle East, East Asia, China, Europe, North and South America, which shows how we are no longer dependent on one particular region. The close to $50 billion from the UAE is a higher financial investment than any country in the region has acheived, and which demonstrates how confident foreign investors are in Pakistan’s economic future.
Re: $43bn direct investment from UAE!!! (merged)
Foreign Investment is all good but as long it also benefits the Country as well
Personally I hope to get the Japanese to build subways in Pakistan
Re: $43bn direct investment from UAE!!! (merged)
** Personally I hope to get the Japanese to build subways in Pakistan**
Yes, I hope so too, that is much needed.
Re: $43bn direct investment from UAE!!! (merged)
Pakistan eyes US $ 100 billion foreign investment in next ten years: Dr. Salman Shah
Advisor to the Prime Minister on Finance and Revenue, Dr. Salman Shah said on Friday that Pakistan expects US $ 100 billion foreign investment in Construction and other sectors during the next ten years as its economy is growing on fast track. “The construction sector activities in Pakistan are growing at a pace Karachi, Lahore, Rawalpindi, Islamabad and other parts of the country which requires a lot of investment in the sector”, he told APP in a panel interview here today. Dr. Salman Shah said that government is also initiating low cost housing projects for overcoming shortage of housing in the country. He added that Foreign investment is rising and workers remittances have also increased due to prudent economic policies of the government. Salman Shah said that consistency and continuity of economic policies and investment-friendly policies bring pursued by the government during the past six years have restored the confidence of investors. They are now keen to invest in various sectors of the economy.” Dr. Shah said that 150-200 investors will attend the Overseas Pakistanis Investment Conference (OPIC) here from March 5. “The conference will bring more foreign investors and joint ventures in the country,” he added. He said that all sectors of the economy, including agriculture, are performing well and expressed the hope that Pakistan’s GDP would cross 7 percent during the current financial year. He added that financial sector investors are also taking keen interest in establishing Banks and expansion of their network in Pakistan.
Citing examples, he said that Standard Chartered Bank has purchased Union Bank adding said that this is a long term investment which would benefit the country in the long run. Tamasec of Singapore investment company is also buying a bank, he added. He said that private sector is participating in the privatization programme of the country and making investments in large industries in the country. Dr. Shah said that EMAAR Group and NAKEL group are also investing a huge amount in the country’s construction sector. Dr. Shah said one of the best companies in the world has shown interest in the purchase of Pakistan State Oil (PSO) company. There is no shortage of capital for investment in the country and Dr Shah expressed the hope that huge investments would lead to further socio economic prosperity. He said if Pakistan sustains its GDP growth at 7-8 percent, maintains consistency and continuity in the economic policies and invest more on the human capital there is no reason why Pakistan cannot progress like China and east Asian Countries.
He said that few years back the foreign investment in Pakistan was only US $ 250 million and today it has reached to US $ 6 billion. Dr. Salman Shah said it is firm commitment of the government to reduce inflation as it is affecting the masses specially the poor segment of the society. He added that government is focusing on pro-poor economic policies adding said that core inflation has reduced to 5.5 percent and food inflation is around 8 percent. He said that government is also concentrating on the development of agriculture sector in the country. He regretted that after Tarbela dam no major reservoir was built in the country. “Had we built more such dams in the past, Pakistan would have produced food which was enough for its own needs and also for export,” he said. Dr.Salman Shah said that Pakistan has advantage of being rich in water resources adding that Kalabagh dam would benefit Sindh province the most. He added that Pakistan will attract over US $ 6 billion during the current financial year and expatriates remittances have also registered 25 percent growth in the seven months of the current financial year. Dr.Shah said that government has announced establishment of a special economic zone at Kala shah kaku (Punjab) covering an areas of 3000 acres for Chinese investors and their joint ventures. The Advisor to the Prime Minister said that the government under a comprehensive plan is establishing special industrial parks, and business centers for industrlization of the country. Talking about government’s efforts for the development of National Trade Corridor, he said this would be a major strategic initiative to improve logistics chain throughout the country adding said that through provision of road infrastructure from Karachi-Khunjerab via KKH and Karachi to Gwadar ports would be modernized according to international standards to reduce cost of transportation. He added through this project Pakistan would be able to save US $ 7 billion per annum. He termed NTC programme as one of the biggest infrastructure development programme in the country’s history adding that this would greatly benefit the people and improve their quality of life beside creating more job opportunities for them and also play an important role in the socio economic development. Dr.Salman Shah said that in Public sector Development Programme (PSDP) for the year 2006-07, the government has allocated Rs.435 billion adding apart from it the Higher Education Commission (HEC) would establish ten engineering universities in the country . He added government has also decided to bring improvement and quality in education system and a huge amount is being spent on human resource development sector. Dr.Shah said for skill development of the young generation and creating employment opportunities for educated youth, under the special directives of Prime Minister Shaukat Aziz and comprehensive training programme called National Vocational and Technical Education Commission (NAVTEC) has already been launched. He said there is shortage of skilled manpower with tremendous opportunities in various sectors including construction sector. He added that under the programme short courses and long term technical courses would be provided and skill training to create employment opportunities within the country and abroad to at least one million people in next two years. He said these persons will be given training in the fields of electrician, livestock, health, domestic appliances, construction, food preparation, domestic services, paramedics, beauty and health, livestock, agriculture and services sectors. Dr.Salman Shah said that President and Prime Minister have directed Central Board of Revenue (CBR) to take steps for the collection of more revenue to meet social sector development and infrastructure requirements for socio economic development and improving quality of life of the people by providing them maximum opportunities in the development process. Dr.Shah said that development of health, education and infrastructure sectors are top most priorities of the government adding that more funds would be allocated to these sectors in the forthcoming budget.
Re: $43bn direct investment from UAE!!! (merged)
Other wealthy middle eastern countries are following the UAE’s exapmple and pumping billions into Pakistan.
Qatar, Kuwait $4bn into Pakistan
Qatar and Kuwait are to pump $4bn into Pakistan’s power, hotel, insurance and oil refinery sectors according to the country’s Federal Minister for Privatisation and Investment Zahid Hamid and cited by the Khaleej Times. Qatar is about to invest $3bn in the power, hotel and insurance industries, while Kuwait is looking at establishing an oil refinery. Meanwhile, the UAE is also in the process of setting up a refinery.
Re: $43bn direct investment from UAE!!! (merged)
Thank God for all this "investment". KESC has loadshedding almost everyday, ther eis no drinking water, price of everything has trippled and with UAE's help property has been out of common man's hand. In the mean time Pakistan's external debt is still at $39 billion. We need more "investment" like this.
To add insult to injury, Mullah in Islamabad's Lal Masjid says he is implementing Shariah [FONT=Times New Roman]unilaterally and in NWFP people are going to Karachi to get a shave due to Taliban banning hajaams. Nice! I can't wait to invest in property in Pakistan.
Re: $43bn direct investment from UAE!!! (merged)
100 billion is too much... way too much. Our people aren't gonna benefit from foreign investment! Our taxes need to be used properly if the people have to benefit! The govt should encourage foreign projects that can benefit our own people (e.g. cheap decent residences for poor people), and the govt should also get some of the money for themselves from these foreign projects... otherwise they're all bullsh*t shoo-shaa.
Re: $43bn direct investment from UAE!!! (merged)
Thank God for all this "investment". KESC has loadshedding almost everyday, ther eis no drinking water, price of everything has trippled and with UAE's help property has been out of common man's hand. In the mean time Pakistan's external debt is still at $39 billion. We need more "investment" like this. To add insult to injury, Mullah in Islamabad's Lal Masjid says he is implementing Shariah [FONT=Times New Roman]unilaterally and in NWFP people are going to Karachi to get a shave due to Taliban banning hajaams. Nice! I can't wait to invest in property in Pakistan.
Well the good news is that with the completion of the M1 motorway in a few months, people can simply drive two hours to Islamabad t get a shave! Great!
Re: $43bn direct investment from UAE!!! (merged)
So many wonderful press releases, so little actually happening. All these billions are going to contractors, land mafia, politicians, army etc.
Re: $43bn direct investment from UAE!!! (merged)
So many wonderful press releases, so little actually happening. All these billions are going to contractors, land mafia, politicians, army etc.
Bhaijan, don't worry, BB and Zardari are returning very soon. They will put everything right. :D
Re: $43bn direct investment from UAE!!! (merged)
Pakistan’s single largest foreign investor by far is the UAE, and they have already invested close to $15 billion during the last 5 years - a great deal in the Telecoms industry. That is a truly record amount of investment never seen in Pakistan’s history.
http://www.zawya.com/story.cfm/sidZAWYA20070209092800
The UAE has invested more than $ 9.5 billion in Pakistan over the past four years, with total investment expected to reach $ 15 billion this year. Major investment has been made in the real estate sector, including housing projects, the construction of shopping malls and telecommunication. The Gulf nation is the largest foreign investor in Pakistan’s public and private sectors, with experts saying that the amount in real estate investment alone has surpassed $ 4 billion.