By Hamid Mahmood ISLAMABAD, May 30 (INP-WealthPK): Kuwait-backed companies are considering $750 million investment in Pakistan, making it one of the country's biggest planned investments in recent years. According to Mohammad Al-Fares, Chairman of Pakistan Kuwait Investment Co., Kuwait Investment Authority's Enertech Holding Company and Pakistan Kuwait Investment Company have applied for a digital bank license and suggested a hydrogen plant and two smart towns. A $200 million water pipeline is already in the works. The anticipated investments are welcome news for Pakistan, which has seen little foreign investment for more than a decade due to energy shortages and political unrest. According to Al-Fares, Enertech and Pakistan Kuwait Investment Company have entered into a partnership to investigate the potential in Pakistan. The latter was founded in 1979 by the governments of Pakistan and Kuwait and maintains a 30 percent share in Meezan Bank Limited. According to SBP, Meezan Bank is Pakistan’s fastest-growing bank in terms of its highest deposits through Roshan Digital Account 2021. Their bilateral economic cooperation, on the other hand, has stalled. Certain geopolitical impediments are characterized by a number of factors. Bilateral trade volume has averaged $2.44 billion per year over the previous decade; however, this is insignificant in comparison to the size and mix of their domestic output and external trade volumes. Kuwait benefitted from trade, according to the WealthPK research. In 2020, the combined trade volume of both nations was $1.23 billion, with exports from Pakistan being just $112.44 million and imports totalling $1.12 billion. In 2021, trade volume climbed by 94.30 percent, nearly doubling to 2.39 billion dollars. Bovine Meat, non-fillet fresh fish, and cereal straws are the key items Pakistan exports to Kuwait. [caption id="attachment_67555" align="aligncenter" width="696"] Source: UN Comtrade Database/ WealthPK Research[/caption] Pakistan is moving its focus from geopolitics to geoeconomics, with focus on peace, development, and connectivity. Pakistan welcomed Kuwait to make use of its large and attractive economic prospects, notably its special investment zones being built under the China-Pakistan Economic Corridor (CPEC). Oil shipments from Gulf countries would be sent through Pakistan to China, while non-oil goods might be routed through Gwadar to the rest of the globe. As Pakistan's economy opens up, the government has already given Kuwait and other regional governments, including the UAE, significant investment and trade possibilities. Simultaneously, CPEC projects are being implemented at a rapid pace. Pakistan may also persuade Middle Eastern countries for investment, particularly in the oil, refinery and related industries. It'll be a win-win situation. Saudi Arabia is now China's largest oil supplier, while Kuwait is one of the top eight oil exporters to China. Saudi Arabia and Kuwait can boost their profit margins by building a refinery and other infrastructure in Pakistan. According to the Asian Institute of Eco-civilisation, Gwadar would provide Pakistan with a chance to attract international investment, particularly in the Special Economic Zones. In a nutshell, Middle Eastern nations' investment would benefit Pakistan on numerous fronts. It would also allow Pakistan to increase its exports of products while simultaneously increasing its foreign currency reserves, which are needed to repay international lenders. These are only a few instances of Gwadar's many faces. Gwadar, on the other hand, has tremendous potential for national growth, particularly in Balochistan. Pakistan is completely aware of the situation. As a result, it has increased its efforts in recent years to develop Gwadar and other districts of Balochistan.