PM invites Saudi businessmen to invest in Pakistan

• Chairman  Saudi-Pak Business Council is heading the delegation
• The delegation will visit Islamabad, Lahore, Faisalabad, and Karachi
• Pakistan-Saudi Arabia Joint Working Group will be revived

ISLAMABAD: Prime Minister Shehbaz Sharif has urged Saudi investors to come forward and invest in the different sectors of Pakistan.

Talking to a delegation of Saudi businessmen and investors in Islamabad, the prime minister said Pakistan has huge potential for investment in diverse fields, including agriculture and minerals.

The 15-memeber delegation is led by Fahad Bin Muhammad Al-Bash, the chairman of the Saudi-Pak Business Council, and will remain in Pakistan for a week.

The prime minister said Saudi Arabia and Pakistan enjoy excellent brotherly relations and both the countries should transform their mutual cooperation into economic partnership.

PM Shehbaz Sharif met a delegation of Saudi businessmen and investors. said Saudi Arabia always extended support to Pakistan on economic and diplomatic fronts. He reaffirmed Pakistan’s desire to enhance bilateral cooperation with Saudi Arabia in different sectors including trade and investment.

The meeting was briefed that Pakistan is an emerging country in terms of investment potential with many facilities for business and making safe investment.  There are ample opportunities for trade and investment in tourism, minerals, textiles, leather and other sectors

The meeting was further told that investment can be made in the oil refinery industry in Gwadar, where Saudi investors have shown keen interest.

It was agreed that Pakistan and Saudi Arabia will accelerate progress in trade and investment and the Pakistan-Saudi Arabia Joint Working Group would also be activated.

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On Monday, the delegation met members of the Islamabad Chamber of Commerce and Industry (ICCI) and held B2B meetings and delegation-level talks with officials of the Khyber Pakhtunkhwa Board of Investment.

The delegation along with Saudi Ambassador Nawaz Bin Saeed Maliki also attended a business conference held at PM’s Office. Federal Minister and Chairman Board of Investment Chaudhary Salik Hussain thanked the business delegation for visiting Pakistan.

He said the visit will provide a dynamic platform for furthering Pak-Saudi business-to-business linkages besides offering the opportunity to explore new vistas of mutual cooperation in trade and investment.

The minister highlighted that the Saudi-Pakistan Business Council is playing a crucial role in providing a conducive platform to promote B2B interactions between the business communities of both countries. He said this visit will pave way to form formidable economic alliances and facilitate business growth.

The minister reiterated during the prime minister visit to Saudi Arabia in April 2022, the two sides agreed to deepen investment cooperation, stimulate partnerships, enable investment integration activities between the private sector and work jointly to solve the challenges faced by the investors.

The minister said there are ample opportunities for Saudi investors in multiples sectors including tourism, coal and gas exploration, agriculture, food processing, mining, renewable energy, refinery, petrochemicals and information technology sectors.

The delegation will visit Islamabad, Lahore, Faisalabad, and Karachi during the trip and meet representatives from various chambers of commerce and the board of investment. The delegation will leave for the kingdom from Karachi on June 27.

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