Muhammad Saleem

Pakistan's potential in key sectors like agriculture and information technology can attract UAE investors, especially with the support of streamlined processes and incentives. Dr. Iqbal, an economics teacher at the state-run university, said that Pakistan is actively seeking foreign investment, including from the United Arab Emirates (UAE). He said various sectors in Pakistan, such as agriculture, IT, and tourism, hold tremendous potential for foreign investment.

He said that all these sectors have unique strengths that can attract foreign investors, particularly with the support of the Special Investment Facilitation Council (SIFC). He noted that the council is leaving no stone unturned to simplify processes and offer attractive incentives. The council has been established by the government to reassure foreign investors that their investments are safe in Pakistan, regardless of any changes in government.

He said that UAE investors can benefit from the skilled workforce of Pakistan, its vast arable lands, and established manufacturing base. Ahmed Ali, an IT expert, talking to WealthPk, said that Pakistan is fortunate to have skilled IT professionals who have an excellent grip on digital services and software development. He pointed out that their services are cost-effective compared to other countries. He said the UAE has enjoyed strong ties with Pakistan for years, and its investors must invest in the IT sector, which is thriving globally with every passing day.

He said that with the advent of artificial intelligence, the IT sector will expand exponentially, and it's a ripe time for the UAE and other countries to cash in on the skilled labor available in Pakistan. Numerous companies are operating in major cities like Lahore, Faisalabad, Karachi and Islamabad, remotely serving the clients in different countries and offering them digital services. He said such people are fetching billions of rupees in foreign exchange for Pakistan.

He said he knows scores of talented guys who have tremendous potential to head up any project; however, they are working for meager salaries due to limited financial resources. He said that a digital marketing agency required funds and that UAE investors could resolve this issue while earning handsome profits. Ahmed Ali said that Pakistani IT companies are known globally for their quality work in different fields, including software development, cybersecurity, and digital services.

He pointed out that currently, the cost of doing IT business in Pakistan is relatively low compared to other countries. This situation makes it attractive for investors striving for joint ventures or aiming to set up offshore development centers, he said. He said that the government's focus on digitalization and the development of IT parks will also help investors to reap the benefits of a conducive environment for investment. 

Dr. Khan of the University of Agriculture Faisalabad, speaking with WealthPk, said that the agricultural sector of Pakistan is facing multiple challenges that can be ironed out through technological advancements. He explained that such advancements need funds, and many farmers in Pakistan are strapped for cash and knowledge to embrace modern technology. He said this sector has significant potential for growth, as Pakistan has vast fertile lands and a variety of crops.

Investors can see a return on their investment quickly by investing in modern farming techniques, better irrigation systems, and value addition through processing and packaging. He urged UAE investors to set up large-scale farms, agro-processing units, coupled with investing in agricultural technology to reap the benefits. Similarly, he said the livestock sector of Pakistan is also rich for foreign investment.

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Credit: INP-WealthPk