DPW chief hopes for Gwadar deal soon
- From: "MEKRAN CONSTRUCTION COMPANY" <hameedbaloch@xxxxxxxxx>
- Date: 30 May 2006 01:20:35 -0700
DPW chief hopes for Gwadar deal soon
Islamabad, May 4: Dubai Ports World (DPW) chairman Sultan Ahmed bin
Sulayem on Thursday called on President Pervez Musharraf and expressed
a strong hope for management of facilities at Gwadar deep sea port and
development of infrastructure.
"Gwadar deep sea port is a viable project as it has a major role in
serving as a corridor for energy, cargo and services between Central
Asia, the Gulf and other surrounding regions," he told newsman at the
Aiwan-e-Sadr.
Sulayem described the president's response to DPW's interest as very
encouraging and hoped for conclusion of a deal in this respect "very
soon."
"Gwadar has all the natural advantages that you will not have anywhere
else," he stated.
During the meeting, President Musharraf informed the UAE business
leader that the government would facilitate foreign investment in the
country and assured that their business would enjoy legal protection.
"An enabling environment has been put in place to attract both foreign
and local investment, which will enjoy an equal playing field."
The president vowed to make Pakistan a hub of regional trade and added
that the country was set to serve as a commerce and energy corridor
between the Middle East, Central Asia, South Asia and the fast-growing
Western parts of China.
Musharraf spoke of the pivotal location of Gwadar as a gateway among
these regions and said the deep sea port would be run on modern lines.
The Chairman Dubai Ports World saw tremendous economic opportunities in
Pakistan at the back of a vibrant growth in industrial and other
sectors.
"The international investors have great confidence in Pakistan's
economic prospects and investment environment, and we want to
participate in the economic growth of Pakistan," he said.
He also hinted at expanding business at Port Qasim.
The mega port company was looking at opportunities on the industrial
side, logistics, free industrial zones, real estate and property
development on modern lines as successfully carried in the United Arab
Emirates.
"We have visited various sites in Islamabad, Lahore and resorts and
construction of housing and commercial complexes."
Pakistan, he said, had a vast potential for growth in various sectors.
"Pakistan has financial stability, there is enough liquidity in the
banks, abundance of liquidity in the capital market in the region,
income of the region is high, interest rates are low and opportunities
for growth are immense," he said, listing benefits of investing in the
country.
Meanwhile, speaking at a press conference here on Thursday at the Board
of Investment (BoI), Sultan Ahmed Bin Sulayem, who was leading a
seven-member UAE delegation, said that they would see much larger scope
of cooperation between the two brotherly countries.
He said that Pakistan's economic policies were moving on right track
and helping it to achieve tremendous results. "We are looking to secure
gains from the existing groups and countries in the region including
GCC, Pakistan, and India," he added.
Mr Sultan, who is also chairman of Nakheel Group of Companies, said
that the group had a number of business plans here in Pakistan and
exploring the possibilities for making investment in various sectors.
"We could not find better chance and time ever before for suitable
investment in this country. We have brought a team to access the
business climate and take advantages being offered by the government,"
he remarked.
As a result of growing business activities the brotherly relations
between the two countries would further enhance creating an atmosphere
of more understanding and cooperation, he added.
Minister of State for Investment Umer Ahmad Ghumman while speaking on
the occasion said several months back President Pervez Musharraf and
Prime Minister Shaukat Aziz had asked for preparing a working paper for
enhancing interaction and developmental activities between the two
countries.
He said the government was looking at various projects of low cost
houses because it wanted to bring down the high prices of housing in
the country.
Deputy Chairman Planning Commission Dr Muhammad Akram Sheikh said we
had to look into cost of construction and adopt measures for reduction
in the input cost.
Mortgage financing has proven very low as compared to other means of
resolving housing problems in the world, he added.
He said that Gwadar would become a hub for oil storage for its onward
supply to the surrounding regions and it would serve a transit point
for Central Asian States.-APP
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