UAE holds enormous opportunities for the Pakistani business community

This will open up enormous opportunities for Pakistani business entities while removing barriers to entry. This year also marks the 10th anniversary of the UAE-Pakistan Assistance Programme. It was launched back in 2011 by HH Sheikh Khalifa bin Zayed Al Nahyan to provide aid after a series of devastating floods that had hit the country but it soon evolved into a wide-ranging initiative that supports Pakistan in a number of ways – from the construction of roads, bridges and education centers to important water, agriculture and healthcare projects.

The milestone is a reminder to me – and to all those with links between the two nations – of the importance of a relationship that goes back to the very beginnings of the UAE. It was, for instance, largely Pakistani labour that helped build the country in its early years. Then, in the 1980s, Emirates began operating thanks to two planes leased from Pakistan International Airlines – and I’m not sure how many people know that Emirates’ “EK” code comes from the “Emirates-Karachi” route of its first ever flight.

The links have been maintained over the years by a steady flow of goods and people, and the UAE continues to be home to a large number of Pakistanis, including a strong professional class in fields like banking and healthcare. I can only see those connections deepening in the years ahead as I foresee more investments from business communities in Pakistan.

The UAE will remain one of the most appealing places for young, ambitious Pakistanis to seek work, build careers and start businesses. When you look at the major cities of the world – New York, London, Hong Kong, Singapore – you can only admire the fantastic job the UAE has done to join them as a global hub.

For Pakistanis, it’s very close, it’s easier than ever to launch companies thanks to the infrastructure put in place by the Government and a huge number of people speak the Urdu language, including many of the locals. It really is a home away from home and I for one am always on the look-out for ways to align with businesses from this region.

The UAE is a great learning model for other countries who want to develop their economy and tourism post-Covid. As we’ve seen that over the last 15-20 years, there has been a real focus in the UAE on developing a post-oil economy. From giant solar plants, the hydrogen fuel projects and the truly ground-breaking Masdar project, the country has been ahead of the curve in these areas and it’s obvious that these investments will pay off over and over in the long term.

Ggreen energy will be the region’s new oil

As an advocate of sustainability, the Expo themes have the chance to lead the world into an exciting new era of new energy solutions and mobility technologies. I firmly believe that green energy will be the region’s new oil. Not only are fossil fuels in decline, the younger generation, which looks at the world in a completely different way, is demanding a greater focus on the environment. This means the world needs to develop new solutions for today’s energy needs.

Pakistan also affirmed its commitment to the 2030 agenda for sustainable development by adopting Sustainable Development Goals (SDGs) as its own national development agenda through a unanimous National Assembly Resolution in 2016.

The world has come a long way. We are now able to store solar power, the big automakers have vowed to be fully electric by 2030, and the costs of renewable energies are coming down all the time.

Sustainability, therefore, is a huge entrepreneurial opportunity for countries and companies – both in the technologies themselves and also the education around them.

Murtaza Hashwani is Deputy Chairman & CEO of Hashoo Group