ISLAMABAD: Prime Minister Shehbaz Sharif said on Monday a team of the Qatar Investment Authority (QIA) will visit Pakistan this month to set up an information technology (IT) park in the South Asian country.
The statement came days after Sharif visited Qatar while seeking to bolster economic cooperation amid Pakistan’s efforts to boost foreign investment to stabilize its frail $350 billion economy.
Before arriving in Doha, Sharif attended the Future Investment Initiative in Riyadh, Saudi Arabia, where he discussed trade and investment with Saudi Crown Prince Mohammed bin Salman.
Speaking at a meeting of his cabinet, Sharif said a QIA team will visit Pakistan this month, while its chief of Asia-Pacific & Africa Investments, Faisal Bin Thani Al Thani, will also arrive in Islamabad by the end of this month.
“Qatar emir said the same thing. They also suggested setting up an IT park here [in Pakistan],” Sharif told his cabinet members in televised comments.
During his visit, Sharif led delegation-level talks with the Qatari emir before holding a separate meeting with him to discuss a wide array of issues.
“The leaders reviewed the entire spectrum of Pakistan-Qatar relations, exploring potential avenues for enhanced cooperation in trade, potential areas of investment, energy, and culture,” Sharif’s office said last week.
He also met a delegation of the Qatar Businessmen Association (QBA) and invited them to invest in Pakistan’s energy, infrastructure and technology sectors.
The developments came amid Pakistan’s attempts to increase trade and foreign investment after it narrowly escaped a default last year by securing a last-gasp $3 billion financial assistance package from the International Monetary Fund (IMF).
The South Asian country has since sought to promote closer economic ties with regional and international allies to bolster its fragile economy, which has been suffering from a prolonged macroeconomic crisis.