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Pakistan Signs MoUs to Attract Billions in Investment from Kuwait

Interim prime minister claims agreements are ‘milestone’ in achievements of SIFC

by Staff Report

Photo courtesy PID

Pakistan on Wednesday signed several memorandums of understanding (MoUs) with Kuwait in a bid to secure billions of dollars in investment from the Gulf state and boost foreign inflows to revive the national economy.

The MoUs were signed during interim Prime Minister Anwaarul Haq Kakar’s two-day visit to Kuwait, during which leaders from both sides agreed to bolster bilateral and economic ties. Earlier this week, during Kakar’s visit to the U.A.E., Pakistan had signed similar MoUs with the Gulf state.

According to a statement issued by the Prime Minister’s Office, Kakar met Kuwait’s First Deputy Prime Minister Sheikh Talal Al-Khaled Al-Ahmad Al Sabah, underlining the importance of historical brotherly ties between the two countries. Reaffirming their desire to strengthen the fraternal ties by transforming them into a mutually rewarding economic partnership, they both witnessed the signing of seven MoUs aimed at attracting investment from Kuwait. Among the sectors targeted by the MoUs are food security, agriculture, hydroelectric power, water supplies, the mining industry, technology zones and mangrove preservation.

In addition, three MoUs in the fields of culture and art, environment, and sustainable development were also signed, with Chief of Army Staff Gen. Asim Munir also in attendance.

The leaders expressed satisfaction at the trajectory of bilateral ties, agreed to remain in close contact, and take swift steps in further strengthen and deepen ties relations. During the meeting, Kakar termed the agreements with Kuwait another milestone in the achievements of the Special Investment Facilitation Council (SIFC) and also prayed for the good health of Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, the emir of Kuwait.

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