Pakistan's economy is expected to receive a boost from the visit of President Sheikh Mohammed bin Zayed Al Nahyan of the United Arab Emirates (UAE), who has committed to invest $10 billion in various sectors. The Lahore Chamber of Commerce and Industry (LCCI) office-bearers believe that the UAE plays an important role as one of Pakistan's top trade and investment partners, with bilateral trade reaching a significant level. Pakistan exports textiles, rice, fruits, vegetables, and leather products to the UAE, while importing petroleum products, machinery, aluminum, and chemicals from the country. The LCCI office-bearers identified areas for deepening cooperation between the two countries, including investments in solar, wind, and hydropower projects to address Pakistan's energy crisis, collaborative ventures in modern farming techniques and agri-processing to improve food security, and tourism and hospitality development to attract UAE visitors and promote cultural exchanges. They also urged UAE investors to explore Pakistan's Special Economic Zones (SEZs) as a gateway for establishing strong industrial bases in Pakistan and benefiting from regional connectivity.
https://www.brecorder.com/news/40341395/lcci-welcomes-visit-of-uae-presidentThe Lahore Chamber of Commerce and Industry (LCCI) has expressed support for the government's roadmap to achieve a $1 trillion economy by 2035. LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, and Vice President Shahid Nazir Chaudhry emphasized the need for a unified effort between the public and private sectors to achieve this ambitious target. They highlighted the importance of policy continuity, robust infrastructure, and mutual collaboration in driving economic growth. The LCCI office-bearers also stressed the significance of innovation, energy reforms, and modernizing technology to attract international investment and enable industrial growth. Specifically, they called for diversifying sectors such as IT, textiles, and agriculture, promoting small and medium-sized enterprises (SMEs) and women-led businesses, and prioritizing renewable energy investments in solar, wind, and energy efficiency projects. They also underscored the importance of forging partnerships with international investors, foreign trade organizations, and development agencies to bring technical expertise and capital investment to priority sectors.
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