ISLAMABAD - Sheikh Faisal Bin Thani Al-Thani, head of Qatar Investment Authority, on Monday said that Qatar is planning various projects in Pakistan with an investment horizon in the country for next 10-15 years. “We are looking for a long term partnership and not quick wins,” head of Qatar Investment Authority said in a meeting with Advisor to Prime Minister on Commerce, Textile and Investment Abdul Razak Dawood along with Chairman Board of Investment Haroon Sharif.
The advisor said that Pakistan desires to have a long term economic and strategic relationship between the two brotherly nations. “The Prime Minister himself led a delegation to Qatar and met with the Emir of Qatar in January, 2019. Following the Prime Minister’s visit, Board of Investment organized a successful Pakistan-Qatar Investment Forum, in March, 2019 in Doha, Qatar between the business communities of the both countries in collaboration with the government of Qatar” he added.
Dawood said that these high level visits have resulted in today’s meetings where both countries have reaffirmed their strong commitment to further reinforce their economic ties and discuss specific projects. Specific projects were discussed in areas of aviation services, tourism, infrastructure development, power generation, water management, agro industries and tourism across the country. The delegation showed a keen interest in Prime Minister’s Housing project. There is also interest from the delegation in supplementing the CPEC investments.
Advisor encouraged Qatari companies to come forward and have joint ventures (JVs) with foreign and local companies to become part of global value chain. He further said that Qatari companies have immense potential to supplement the CPEC projects and stimulate industrialization in the country.
Chairman Board of Investment informed the delegation that the government of KP has developed a master plan for nature tourism with technical assistance from a Swiss firm. These projects are available to developers and will be showcased in the meetings.
Adviser informed the delegation that with investment in the tourism sector, Qatar could enjoy a first mover’s advantage. He also said that as a result of renewed confidence in the new government, large investments were in the pipeline from other countries including China, Malaysia and Turkey.
Qatar-Pakistan bilateral trade volume is set to witness a major boost in the coming days as Hamad Port has established direct shipping links to Karachi and other ports in Pakistan. The bilateral economic relations are expected to expand further as private companies from both sides are exploring trade and investment opportunities aggressively. After recent visit of a Pakistani mission to Doha, Qatari companies have signed a number of agreements with their Pakistani counterparts to import goods from Pakistan including fruits, vegetables, fresh meat, chicken other poultry and dairy products.
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