ISLAMABAD: Federal Minister for Commerce Jam Kamal Khan emphasized the early implementation of investment projects during a meeting with United Arab Emirates Ambassador Hamad Obaid Ibrahim Salem Al-Zaabi, according to Radio Pakistan on Thursday.
The UAE has pledged significant investments in Pakistan, including a recent commitment of $10 billion across multiple sectors such as information and communication technologies, artificial intelligence, renewable energy and tourism.
A UAE-based firm has also shown interest in investing in Karachi port infrastructure, making it a critical hub for regional trade and logistics.
Reporting on the UAE envoy’s meeting with the Pakistani minister, Radio Pakistan said they discussed bilateral trade and investment opportunities between the two countries.
“Talking to him, the Minister underscored the longstanding and amicable relations between Pakistan and the UAE, emphasizing the need to expedite key investment projects,” the report said.
Jam Kamal also discussed with the UAE envoy the Karachi-Pipri Freight Corridor Project, which aims to facilitate swift cargo movement from Karachi port to inland destinations in Pakistan.
The UAE is one of Pakistan’s key trade partners in the region and is regarded by the Pakistani government and exporters as a vital gateway to the Middle East.
The UAE’s strategic location, coupled with strong economic ties, facilitates the flow of Pakistani goods to broader Gulf markets.
Additionally, the significant Pakistani expatriate community in the UAE further strengthens this trade relationship, making the Arab state a major source of remittances for Pakistan.
Pakistan stresses expediting key investments projects with UAE
https://arab.news/m664a
Pakistan stresses expediting key investments projects with UAE
- UAE has pledged significant investments in Pakistan, including a $10 billion commitment across multiple sectors
- A UAE-based firm also wants to invest in Karachi port to make it a critical hub for regional trade and logistics
Saudi Arabia opens 3rd round of Exploration Empowerment Program
RIYADH: Saudi Arabia’s Ministry of Industry and Mineral Resources, in collaboration with the Ministry of Investment, has opened applications for the third round of the Exploration Empowerment Program, part of ongoing efforts to accelerate mineral exploration in the Kingdom, reduce early-stage investment risks, and attract high-quality investment from local and international mining companies.
The third round of the Exploration Empowerment Program offers a comprehensive support package targeting exploration companies and mineral prospecting license holders.
The initiative aims to lower investment risks for projects and support a faster transition from prospecting to development.
"The program provides coverage of up to 70 percent of the total salaries of Saudi technical staff, such as geologists, during the first two years, increasing to 100 percent thereafter, in line with program requirements.
This support aims to develop talent, build national capabilities in mineral exploration, promote job localization, and facilitate the transfer of geological knowledge.
The application for the third round opened on Jan. 14, allowing participants to benefit from the Kingdom’s attractive investment environment, its stable legal framework, and streamlined regulatory structures, as well as integrated infrastructure that supports the transition from mineral resources to operational mines.
The ministry has set the timeline for the third round, with the application period running from Jan. 14 to March 31.
This will be followed by the evaluation, approval, and signing of agreements from April 1 to May 31, with the eligible projects set to be announced between June 1 and July 31 of the same year.
The program stages include submitting exploration data during the reimbursement and payment phase from Sept. 1 to Nov. 30, followed by technical and financial verification of work programs and approval of the disbursement of support funds in January 2027.
The exploration data will then be published on the National Geological Database in April 2027.
The ministry emphasized that the EEP focuses on supporting the exploration of strategically important minerals with national priority. It also contributes to enhancing geological knowledge by providing up-to-date data that meets international standards, helping investors make informed decisions and supporting the growth of national companies and local supply chains.
The ministry urged companies to apply early to benefit from the program’s third round, which coincided with the fifth edition of the International Mining Conference, which was held from Jan. 13 to 15.
