Saudi Arabia Sees Pakistan as High-Priority Investment Opportunity
In a two-day Pak-Saudi investment conference in Islamabad, Saudi Arabia’s Assistant Minister of Investment Ibrahim Al-Mubarak emphasized that Pakistan is a top economic investment and business opportunity for the Kingdom. A 50-member delegation, led by Al-Mubarak, arrived in Pakistan with representatives from various sectors including IT, telecoms, energy, aviation, construction, mining exploration, agriculture, and human resource development.
Saudi Arabia Seeks to Strengthen Business Ties with Pakistan
Al-Mubarak expressed confidence in Pakistan’s economy, demographics, talent, location, and natural resources, highlighting the potential for partnership between Saudi and Pakistani companies. The visit aims to foster business-to-business engagements and explore investment opportunities in Pakistan across different sectors.
Positive Outlook for Bilateral Trade and Investment
Officials from both countries, including Petroleum Minister Dr. Musadik Malik and Minister for Commerce Jam Kamal Khan, highlighted the ongoing negotiations between Pakistani and Saudi companies. The visit by the Saudi delegation signals the beginning of enhanced economic cooperation between the two nations, with a focus on joint ventures and collaboration in various industries.
Strategic Investments and Financial Support
Saudi Arabia’s commitment to a $5 billion investment package in Pakistan demonstrates a strong bilateral relationship aimed at boosting trade and economic ties. The Kingdom’s support, including oil on deferred payments and direct financial assistance, has been instrumental in stabilizing Pakistan’s economy and strengthening its foreign reserves.
Promoting Investment and Economic Growth
Pakistan has established the Special Investment Facilitation Council to attract investments, particularly from Gulf nations, in sectors such as energy, agriculture, mining, information technology, and aviation. The council’s efforts align with Pakistan’s goal of securing foreign financing and fostering economic development through strategic partnerships.