ISLAMABAD: Pakistan would like to see Qatar increase its investment portfolio in its key economic sectors, Prime Minister Shehbaz Sharif said on Thursday during his meeting with Qatar’s Minister of State for Foreign Affairs Dr. Mohammed bin Abdulaziz Al-Khulaifi, as the government actively seeks foreign investment to tackle financial challenges.
Pakistan has welcomed numerous foreign officials and business delegations in recent weeks, encouraging local partnerships and asking them to explore investment opportunities across various economic sectors.
A Saudi business delegation, consisting of senior representatives from nearly 35 companies, recently concluded their visit to Pakistan, during which they held several business-to-business meetings. Additionally, Prime Minister Shehbaz Sharif met with a group of Japanese industrialists, urging them to invest in Pakistan’s nascent electric car industry.
The country is also expecting the visit of Saudi Crown Prince Mohammed bin Salman later this month, hoping it would bring several billion dollars in investments.
Al-Khulaifi arrived in Islamabad on a one-day visit on Thursday as a special envoy of Qatar’s Prime Minister Sheikh Mohammed bin Abdulrehman bin Jassim Al Thani, the foreign office said in an earlier statement. He met Sharif at the Prime Minister’s House to discuss bilateral investment and economic cooperation.
“The Prime Minister highlighted the important role of Qatar Investment Authority (QIA) and said Pakistan would like to see Qatar expand its investment portfolio in Pakistan in priority sectors,” the Prime Minister’s Office (PMO) said.
“To this end, the Special Investment Facilitation Council (SIFC) would be able to ensure swift coordination.”
The SIFC is a hybrid civil-military forum formed by the government in June 2023 to fast-track economic development in key sectors mainly from Gulf countries.
Sharif said Pakistan was keen to transform its “excellent ties” with Qatar into a mutually beneficial robust economic partnership.
“In this regard, the Prime Minister stressed that the two countries should continue to work together to strengthen bilateral cooperation in all spheres of mutual interest, especially in trade and investment,” the PMO said.
Pakistan has expressed interest in Qatar’s information technology sector and sent the first delegation of IT professionals to Qatar last December.
Many countries in the Gulf region are diversifying their economies beyond oil and gas by investing in technology sectors, creating innovation hubs and developing digital infrastructure to boost various industries.
The strategic shift includes a significant emphasis on adopting advanced digital technologies, such as AI, cloud computing, and cybersecurity, with the goal of transforming these nations into knowledge-based economies.
Qatar has also moved in this direction by investing in tech startups and committing to host technologically advanced events such as the FIFA World Cup 2022.
Qatar has also been working actively to promote peace in regions like Afghanistan and, more recently, Gaza.
These issues have been central to Pakistan’s diplomatic engagements, and the two countries have discussed them in past meetings.
