Texas hedge fund manager close to Trump leads investment delegation to Pakistan
Business
Several agreements between the two countries were signed
ISLAMABAD (Web Desk) - A high-level delegation of American investors featuring a business partner of US President Donald Trump has arrived in Pakistan, state broadcaster Radio Pakistan reported on Tuesday, adding that several agreements between the two countries were signed.
The delegation, led by Texas hedge fund manager Gentry Beach, has arrived in Pakistan for a two-day visit to the country. Pakistani state media said that the delegation’s arrival days after the new American administration taking office is of “great importance.”
“The visit of the US delegation to Pakistan will open new avenues for investment, economic and bilateral relations between the two countries,” Radio Pakistan said.
The development takes place as cash-strapped Pakistan engages with countries to secure foreign investment in its key economic sectors such as energy, agriculture, mining and minerals, livestock and others.
Prime Minister Shehbaz Sharif’s government has sought increased foreign trade and investment as a remedy to Pakistan’s economic woes. Pakistan, which came to the brink of a sovereign default in 2023, has suffered from a prolonged macroeconomic crisis that has drained its economic resources, weakened its currency and exacerbated its balance of payments crisis.
