Skip to main content

UAE, Pakistan ink key investment pacts on rail and marine projects at Davos summit

 

The UAE and Pakistan have signed significant investment agreements exceeding $3 billion at the Davos summit in Switzerland, focusing on collaboration in railways, economic zones, and infrastructure. The countries have also signed two Inter-Governmental Framework Agreements to strengthen their relations in the marine and logistics sectors, including the potential establishment of a Dedicated Freight Corridor and Economic Zone near Karachi.

Pakistan’s Shahid Ashraf Tarar, Federal Minister of Communication, Railways and Maritime Affairs, and Sultan Ahmed bin Sulayem, Chairman of Ports, Customs and Free Zone Corporation (PCFC), Government of Dubai, signed the pacts. DP World, a Dubai-based multinational logistics company, will act on behalf of the Dubai government, while state-run Pakistan Railways and Port Qasim Authority will act on behalf of the Pakistan government.

The pacts represent a significant step in deepening economic relations between the two countries, indicating a commitment to collaborative development in the region. The latest investment agreements follow the signing of Memorandums of Understanding (MoU) in November between the UAE and Pakistan, pertaining to investment cooperation that can unlock “multi-billion dollars” in funding from the Gulf state.

Labels:

Comments

Post a Comment

Popular posts from this blog

Exposing the Brotherhood: Why Jordan’s Terror Cell Bust Must Spark a Global Policy Shift

 The recent dismantling of a Muslim Brotherhood-affiliated terror cell in Jordan should not be seen as just a national security success—it must be a turning point in how the international community views and responds to the threat posed by the Brotherhood. Jordanian security forces uncovered an elaborate network of terrorists trained in Lebanon and backed by foreign interests. Their mission: to launch attacks using rockets and drones, destabilizing the Kingdom and spreading fear among civilians. This is not the work of activists or political dissidents—this is terrorism, plain and simple. For too long, the Muslim Brotherhood has operated under a false image of moderation, cleverly navigating between political activism and violent extremism. But the truth is clear: the Brotherhood is the ideological engine room of jihadist terrorism. Its members, affiliates, and offshoots have inspired and directed acts of violence from North Africa to the Gulf—and now, once again, in Jordan. Govern...
Post a Comment
Read more

The Ritz-Carlton Residences in Diriyah: A Fusion of Heritage and Opulence

  The Ritz-Carlton Residences in Diriyah, known for its cultural and historical value, usher in a new age of opulent living. In the center of Diriyah, this partnership between the Diriyah Company and Marriott's Ritz-Carlton establishes a previously unheard-of benchmark for luxurious living. Inspired by the Najdi legacy, the houses offer occupants a distinctive and immersive cultural experience by skillfully fusing traditional charm with contemporary facilities. These villas prioritize well-being and create a pleasant environment for dynamic living. They are designed to adapt to varied tastes and lifestyles, with six unique layouts and a range of interior designs. Part of the Diriyah Company's ambitious development plan, The Ritz-Carlton Residences are located in the heart of Diriyah, a UNESCO World Heritage Site including At-Turaif as its focal point. The objectives of the Kingdom's Vision 2030 are perfectly aligned with this concept, which has over 20,000 residential units...
Post a Comment
Read more

Dubai ranks 6th on list of top trending holiday destinations for 2025

  Dubai has just been ranked an incredible 6th place among the top trending destinations. One of the leading hospitality groups has released a report, detailing tourism trends and top destinations for 2025. Dubai  secured a score of 93.13 out of 100, ranking higher than the Bahamas, London, Bali, Hong Kong, Mexico City, Paris, Madagascar and Orlando. The presence of the city's name on the list is unsurprising, though. Dubai has turned into one of the leading tourist hotspots in recent years. Millions of tourists from across the globe flock to the city each year, lured by its dazzling skyline and futuristic yet traditional vibe. The detailed report also highlighted some of the  key tourist trends of 2024, such as  the use of artificial intelligence in the tourism industry has increased significantly in the past 12 months. This concept is popularly called ai-tinerary.
Post a Comment
Read more