In a significant development, Kuwait is set to invest $10 billion in Pakistan through the signing of seven memoranda of understanding (MOUs). The investment agreements were approved by the Pakistani Federal Cabinet in its recent meeting, covering diverse sectors such as the environment, mining, and food security.
Reports from Pakistani news outlets indicate that the expected visit of Pakistani Prime Minister Anwar ul Haq Kakar to Kuwait will mark the formal signing of these seven MOUs, underlining the deepening economic relations between the two nations.
The Kuwaiti investment projects slated for establishment in Pakistan encompass various sectors, including water reservoirs, mining facilities, protection of mangrove forests in coastal areas, information technology, and initiatives to enhance food security. The Private Investment Facilitation Board in Pakistan played a pivotal role in facilitating these agreements, showcasing joint efforts to strengthen economic cooperation with Kuwait.
The Pakistani Cabinet expressed its appreciation for the Private Investment Facilitation Board and relevant ministries, recognizing their efforts in fortifying the strategic partnership with Kuwait. Kakar emphasized the importance of cooperation among Pakistan’s provinces to ensure the swift implementation of approved projects with Kuwait. He directed stakeholders to accelerate the implementation of planned Kuwaiti investments in Pakistan to achieve long-term economic gains.
This substantial investment deal signals a positive step towards bolstering economic ties between Kuwait and Pakistan, with a focus on strategic projects spanning critical sectors to drive mutual growth and prosperity.
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