The Dubai Financial Market has shown keen interest to be a strategic investor in Karachi Stock Exchange and is planning to invest in Pakistan in financial sector, capital market and real estate business.

Essa Abdulfatta Kazim, Chairman of the Dubai Financial Market, UAE called on Prime Minister Shaukat Aziz along with a delegation of investors Friday.

Speaking on the occasion the prime minister said that the increasing investments in the country are a testimony of the confidence of local and foreign investors in the economic policies and potential of Pakistan.



The PM said the capital market reforms have improved the functioning of stock exchanges in the country and Karachi Stock Exchange is among the best performing Stock markets of the region. He said Karachi Stock Exchange is in the process of demutualisation and conversion from a guarantee limited company to a public limited company.

The PM said as a result of the multi-pronged strategy adopted by the government to facilitate investments and growth of businesses, for the first time in the country's history the rate of investments has reached 20% of GDP. Last year record foreign investment of $ 3.8 billion was received and this year the amount is expected to be over $5 billion.

The PM said the comparative advantage enjoyed by Pakistan due to the availability of skilled manpower, low manufacturing cost, availability of infrastructure and raw material enables our industrial sector to undertake contract manufacturing. The PM said Pakistan is an ideal location to be the regional hub for manufacturing and trade. These factors coupled with consistency of policies and transparency of procedures is fast making Pakistan a destination of choice for foreign investments, the PM said.

Essa Abdulfatta Kazim said the Dubai Financial Market is keen to be a strategic investor in Karachi Stock Exchange. He said the economic stability achieved by Pakistan and the successful implementation of reforms particularly in the financial sector has enhanced its investment potential and his company is planning to invest in Pakistan in financial sector, capital market and real estate business. The delegation members appreciated the high growth achieved by Pakistan and said the multifaceted reform agenda implemented by the government and consistency and continuity of policies have brought development and prosperity in Pakistan.

The meeting was attended among others by Minister for Privatisation Zahid Hamid, Minister of State for Finance Omar Ayub Khan and senior officials. The delegation members included Soud Ba'alawy, Executive Chairman of the Dubai Group, Saad Abdul Razzak, Group Chief Executive of the Dubai Islamic Bank PJSC, Saad Zaman, Chief Executive of the Dubai Islamic Bank and Hussain Al-Kamzi, Chief Executive Officer of the Noor Investment Group.