Maersk to invest $2bn in Pakistan’s maritime sector, MoU signed
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Pakistan and Denmark signed a strategic MOU on Wednesday, after which Maersk, a Danish shipping company, is set to invest nearly $2 billion in Pakistan’s maritime sector.
Minister for Maritime Affairs Qaiser Ahmed Shaikh signed this MOU on the behalf of Government of Pakistan and Denmark’s Minister for Industry, Business and Financial Affairs H.E Morten Bodskov from the Danish Government.
Denmark’s Ambassador to Pakistan Jacob Linulf presented the signed document of the Danish Minister in this ceremony.
On this occasion, Federal Minister Qaiser Ahmed Sheikh said that we are extremely thankful to the Government of Denmark for this remarkable maritime sector breakthrough.
He further added that as a result of this memorandum, the ministry can integrate logistics hubs in all ports, establish a deep water container terminal in Karachi, create International Maritime Organization (IMO) and European Union (EU)-compliant ship recycling facilities in Gaddani, assist Pakistan Marine Academy to upgrade curriculum and equipment and provide continuous technical and training assistance to Pakistani ports.
The Maritime Minister Qaiser Ahmed Sheikh also highlighted the importance of Maersk Company in Pakistan’s shipping industry.
He said that Maersk has the highest market share of 20% for containerized imports and exports in Pakistan.
Apart from that, the global market capital of this company is around 175 billion Danish Krone.
He further said that the Ministry of Maritime Affairs and Denmark’s Government have been continuously working for the last six months to reach a fruitful conclusion.
The Danish Ambassador to Pakistan Jakob Linulf also thanked to Government of Pakistan and the Minister for Maritime Affairs for this progress.
Both sides are willing to strengthen ties for the growth of the maritime sector.
Reference Link:- https://mettisglobal.news/maersk-to-invest-2bn-in-pakistans-maritime-sector-mou-signed/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
