Pak businessmen must invest in UAE for strengthening trade ties with global investors: Chairman PIAF

Trade and industry

LAHORE: Chairman Pakistan Industrial and Traders Associations Front (PIAF) Engineer Sohail Lashari Tuesday said that Pakistani businessmen must avail investment opportunities available in UAE as it would strengthen trade linkages among Pakistani and global investors.

The PIAF Chairman was speaking at a function arranged for a two-member delegation of Ras Al Khaimah Investment Authority (RAKIA).

Amjad Khan of Ras Al Khaimah Investment Authority, Asma Faisal, former LCCI Senior Vice President Yaqoob Tahir Izhar, Executive Committee Members Dr Shahid Raza and Ghulam Sarwar Malik also spoke on the occasion.

Engineer Sohail Lashari said that Pakistan and Gulf States share cordial business relations and urged Pakistani investors to help cement these ties further. He said Ras Al Khaimah offers many opportunities for doing business which can and has benefited both brotherly nations, saying that Ras Al Khaimah has a transparent, tax and corruption free environment for business. He said UAE is stable economy and offers many business attractions such as international trade centers and conference facilities.

The PIAF Chairman said that Ras Al Khaima is becoming the hub of business activities and this is due to the vision of Sheikh Saud Bin Saqr Al Qasimi, the Ruler of Ras Al Khaima. He achieved this milestone of rapid economic growth by implementing vast organizational and economic reforms that transformed RAK into an attractive destination for foreign investment.

Speaking on the occasion, Ms Asma Faisal of Ras Al Khaimah Investment Authority said that for having one of the best regulatory environments in the region, RAKIA offers a highly attractive economic package to foreign investors, which include 100 per cent income and corporate tax exemptions, full repatriation of capital and profit, readily available labour, hassle-free licensing procedures, excellent airport and seaport facilities, and the absence of foreign exchange control, trade barriers and quotas. Moreover, he said, Ras Al Khaimah’s excellent infrastructure and logistic support, competitive energy cost, easy access to GCC countries, zero corruption and minimum bureaucracy, stable government and investor friendly policies have added to the emirate’s global appeal.

She said that a key indicator that reflects Ras Al Khaimah’s strong socio economic performance is the increasing number of global companies that are investing in the emirate, while the impressive combination of premium residential and leisure amenities that continue to be built across Ras Al Khaimah reflect the excellent quality of life that is being enjoyed by citizens and residents alike.

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