Pakistan says United Arab Emirates to invest $10 billion in Pakistan

ISLAMABAD (AP) — The Pakistani government said Thursday that the United Arab Emirates committed to investing up to $10 billion in Pakistan during a meeting in the UAE capital between that country’s president and the Pakistani prime minister.

The office of Pakistani Prime Minister Shehbaz Sharif said in a statement that UAE President Mohammed bin Zayed Al Nahyan made the commitment during a meeting in Abu Dhabi with Sharif, who is visiting the UAE. It provided few details.

The statement said Sharif told the UAE president about measures the Pakistani government is taking to encourage foreign investment, and that the UAE president committed to investing $10 billion in various sectors in Pakistan.

Sharif also invited the UAE president to visit Pakistan, an offer which he accepted, the statement said.