{"id":381616,"date":"2024-01-19T04:45:15","date_gmt":"2024-01-18T23:45:15","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=381616"},"modified":"2024-01-19T04:45:15","modified_gmt":"2024-01-18T23:45:15","slug":"pakistan-dubai-sign-over-3b-investment-pact","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/pakistan-dubai-sign-over-3b-investment-pact\/","title":{"rendered":"Pakistan, Dubai sign over $3b investment pact"},"content":{"rendered":"

Railway, port development
\nCooperation covers development of dedicated freight corridor, multi-modal logistics park, freight terminals
\nIslamabad
\nPakistan and Dubai have inked a more than $3 billion investment pact in diverse fields including cooperation in railways, economic zones, and infrastructure development.
\nThe agreement was signed on the sidelines of the World Economic Forum in Davos by Minister of Communication, Railways, and Maritime Affairs Shahid Ashraf Tarar and Dubai\u2019s Chairman of Ports, Customs and Free Zone Corporation (PCFC) Sultan Ahmed bin Sulayem.
\nThe cooperation covered the development of a dedicated freight corridor, multi-modal logistics park, and freight terminals, the Ministry of Railways said in an official statement.
\nThe Dubai Port (DP) World will work on infrastructure development at Qasim International Container Terminal which is Pakistan\u2019s leading trade gateway and plans to develop an economic zone near the terminal.
\nBoth governments have signed two inter-governmental framework agreements to strengthen their relations in the marine and logistics sectors, including the potential establishment of a \u201cDedicated Freight Corridor\u201d and \u201cEconomic Zone\u201d near Karachi.
\nThe DP World will act on behalf of the Dubai government, while Pakistan Railways and Port Qasim Authority will act on behalf of the Pakistani government, for the development of the projects.<\/p>\n

\"\"<\/a><\/p>\n

The rail-based Dedicated Freight Corridor is planned to run from Karachi Port on the Arabian Sea, passing through Pakistan\u2019s most populous city, to the Pipri Marshalling Yard, approximately 50 km away.
\nThis would decongest Karachi besides improving road safety. It will significantly improve efficiency, and transport times and reduce the overall cost of logistics.
\nPakistan Railways is the national, state-owned railway company, owning and operating nearly 8,000 route-km of railway across the country, from Peshawar in the northwest to Karachi in the south.
\nThe Qasim International Container Terminal, a second framework agreement was signed with Pakistan\u2019s Ministry of Maritime Affairs to dredge the navigation channel.
\nThe DP World would carry out the capital dredging on behalf of the Dubai government.
\nThis framework agreement will also see the development of an economic zone at Port Qasim, which aims to attract more than $3 billion of foreign direct investment.
\nThe DP World will carry out the development of the economic zone, to maximise economic activity in Pakistan.
\nSpeaking at the signing ceremony, Ashraf said: \u201cThe DP World has a long-standing proud presence in Pakistan witnessed by mutually rewarding engagement. Building on the unwavering trust and partnership, the two brotherly countries have decided to further consolidate their economic cooperation through landmark projects.\u201d
\nHe added that the signing of investment framework agreements highlights the importance of Pakistan as a gateway to Asia and commercial dividends associated with its strategic location.
\nSulayem, meanwhile, said that Pakistan is a growing market and an important trade corridor to Central Asia.
\n\u201cWe are proud to have contributed to its trading ability through our operations at Qasim International Container Terminal and are honored to work with various Pakistani government organisations to develop new freight systems and with Port Qasim Authority to enhance port connectivity and investment.\u201d
\n\u201cThese will help serve Pakistan\u2019s growing population, forecast to approach 300 million in the coming decade, and integrate it further into the wider region,\u201d he concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"

Railway, port development Cooperation covers development of dedicated freight corridor, multi-modal logistics park, freight terminals Islamabad Pakistan and Dubai have inked a more than $3 billion investment pact in diverse fields including cooperation in railways, economic zones, and infrastructure development. The agreement was signed on the sidelines of the World Economic Forum in Davos by […]<\/p>\n","protected":false},"author":2,"featured_media":381625,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-381616","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news"},"yoast_head":"\nPakistan, Dubai sign over $3b investment pact<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/pakistan-dubai-sign-over-3b-investment-pact\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan, Dubai sign over $3b investment pact\" \/>\n<meta property=\"og:description\" content=\"Railway, port development Cooperation covers development of dedicated freight corridor, multi-modal logistics park, freight terminals Islamabad Pakistan and Dubai have inked a more than $3 billion investment pact in diverse fields including cooperation in railways, economic zones, and infrastructure development. 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