UAE delegation meets federal minister, expresses interest in investing in Pakistan

A United Arab Emirates (UAE) met with Federal Minister for Maritime Affairs Ali Zaidi and expressed interest in investing in development projects in Pakistan, a national daily reported.

The UAE delegation was headed by the Managing Director of DP World Dubai (port and logistics company) Mohammed Al-Muallem. “The delegation informed that the leadership of Dubai is keenly interested in investing in development projects in Pakistan,” the federal minister said. The meeting discussed investment in seaport projects in Pakistan. China Pakistan Economic Corridor (CPEC) Chairman Asim Saleem Bajwa was also present during the meeting.

Earlier this year, in February DP World said that it would return to full state ownership and delist from the NASDAQ Dubai, in a deal worth some $2.7 billion. The new deal puts the market value of DP World, which operates some 78 ports and terminals in 40 countries, at just under $14 billion.

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