A Memorandum of Understanding (MoU) was signed between Pakistan and Denmark, marking a historic investment in the country’s shipping industry.
The agreement, which was formalised by Federal Minister Qaiser Ahmed Sheikh, is set to attract a substantial investment of $2 billion from a leading Danish shipping company.
During the signing ceremony, which took place in the presence of various dignitaries, the Danish ambassador presented the signed MoU to Minister Sheikh.
Federal ministers Muhammad Aurangzeb, Jam Kamal, and Rana Tanveer were also in attendance, underscoring the importance of this collaboration.
Expressing his gratitude, Minister Qaiser Sheikh emphasized the unprecedented nature of this investment in Pakistan's maritime sector. He noted that such a large influx of funds had never been witnessed before.
The collaboration with Denmark aims to enhance the recycling system in Gadani, a key area for ship-breaking activities, and to update the curriculum at the Pakistan Marine Academy.
