Shah Mahmood Qureshi, left, Pakistan's foreign minister, and Rangin Dafdar Spanta, his Afghan counterpart, at a diplomats' conference held at the Emirates Palace hotel in Abu Dhabi.
Shah Mahmood Qureshi, left, Pakistan's foreign minister, and Rangin Dafdar Spanta, his Afghan counterpart, at a diplomats' conference held at the Emirates Palace hotel in Abu Dhabi.
Shah Mahmood Qureshi, left, Pakistan's foreign minister, and Rangin Dafdar Spanta, his Afghan counterpart, at a diplomats' conference held at the Emirates Palace hotel in Abu Dhabi.
Shah Mahmood Qureshi, left, Pakistan's foreign minister, and Rangin Dafdar Spanta, his Afghan counterpart, at a diplomats' conference held at the Emirates Palace hotel in Abu Dhabi.

Pakistan minister uses UAE trip to invite foreign investors


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ABU DHABI // Despite the turmoil in Pakistan, there are "huge opportunities" for investors there, the country's foreign minister said this week. "The perception is that we are in a war zone. People are seeing bombs on TV screens," Shah Mahmood Qureshi said.

"Despite that, there are huge opportunities. We have challenges, but within them there are opportunities." The UAE has agreed to host a conference of the Friends of Democratic Pakistan (FODP) - formed during a UN session in 2008 to promote democracy in Pakistan - on January 26 in Dubai to encourage private and public businesses to invest in Pakistan. "This is for anyone who is interested, not just Pakistani businessmen but also foreign investors," Mr Qureshi said.

There is potential in sectors including energy, water, agriculture, health, education, communications and infrastructure, he said. "This goes beyond governments. We have incorporated the private sector and the corporate sector in creating win-win situations for both sides," Mr Qureshi said. "The private sector can come and help Pakistan stabilise its economy, invest, make a handsome profit and cater to a need that we have today.

"If they invest in the energy sector, for example, Pakistan gains by having additional energy available while they gain by good returns." Mr Qureshi discussed the conference idea in July at an FODP meeting in Turkey. The UAE's foreign minister, Sheikh Abdullah bin Zayed, offered to host the event in the Emirates. "The UAE has played a positive role with us since day one," Mr Qureshi said. "It is supportive of Pakistan. Pakistan and the UAE enjoy a very special relationship.

The UAE is one of the principal supporters of the FODP, which first convened here in Abu Dhabi, where we met and chartered a way forward." The group was established with the encouragement of the United States, which wanted to marshal political and economic support to promote stability. Members include Australia, Britain, Canada, China, France, Germany, Italy, Japan, Saudi Arabia, Turkey, the United Arab Emirates, the United States, the United Nations and the European Union. asafdar@thenational.ae

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Bert van Marwijk factfile

Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder

Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia

Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands

While you're here
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ELIO

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What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.

What the rules dictate? 
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.

What are the penalties? 
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.

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