Pakistan inks MoU with Denmark’s ship giant Maersk to boost partnership in infrastructure uplift

Pakistan and Denmark have singed an agreement for Maersk transshipment port to boost partnership in sustainable ports and infrastructure uplift, reported 24NewsHD TV channel. Pakistan and Denmark sign a memorandum of understanding (MoU) with Maersk, a renowned European shipping giant, which intends to invest $2 billion in Pakistan.

The agreement was signed by Danish Minister for Industry, Business and Financial Affairs Morten Bodskoff and Pakistan's Minister for Maritime Affairs Qaiser Ahmed Sheikh. With today's agreement, international company Maersk will start transshipment port business in Pakistan.

The high officials of Finance Ministry, Industry Ministry and SIFC were also present on this occasion. Ambassadors of Pakistan and Denmark also played key role in finalizing the agreement. Now Maersk will start investing from October 2024 in numerous areas, including infrastructure, terminals, warehousing, and shipbreaking, which is likely to make Karachi a transshipment hub.

Qaiser Sheikh on the occasion stated that PM Shehbaz Sharif is working day and night for the progress and prosperity of Pakistan and its economy by particularly focusing on creating an enabling environment for the business community. “We are targeting to double our exports in the next five years by focusing on restoring the confidence of local and foreign investors.”