ISLAMABAD: Pakistan’s Prime Minister, Shehbaz Sharif, has urged Saudi companies to invest in the country’s various industries.
In Islamabad, the prime minister told a group of Saudi businesspeople and investors that Pakistan was a great place to invest in many different fields, such as agriculture and minerals.
The 15-member group will spend one week in Pakistan, led by Fahad Bin Muhammad Al-Bash, chairman of the Saudi-Pak Business Council.
The prime minister said that Saudi Arabia and Pakistan have great brotherly ties and should turn their work together into a business relationship.
The prime minister of Pakistan met with a team of Saudi businesspeople and investors. According to the source, Saudi Arabia has always supported Pakistan on the economic and diplomatic fronts. He made it clear that Pakistan wants to work with Saudi Arabia more in all areas, including business and investment.
The gathering was informed that Pakistan is an up-and-coming country in terms of investment potential, with numerous business facilities and secure investment opportunities. There are substantial trade and investment prospects in tourism, minerals, textiles, and other areas.
Saudi investors have shown considerable interest in the oil refinery industry in Gwadar, where it is possible to make investments.
Pakistan and Saudi Arabia agreed to expedite progress in trade and investment, and to launch the Pakistan-Saudi Arabia Joint Working Group.
On Monday, the group met with members of the Islamabad Chamber of Commerce and Industry (ICCI) and had B2B meetings and talks with Khyber Pakhtunkhwa Board of Investment officials.
Along with Saudi Ambassador Nawaz Bin Saeed Maliki, the delegation also attended a business meeting held at the PM’s Office. Chaudhary Salik Hussain, federal minister and chairman of the Board of Investment, welcomed the corporate delegation to Pakistan.
He said that the visit would be a great way to strengthen business ties between Pakistan and Saudi Arabia, as well as a chance to look into new ways for the two countries to work together in trade and investment.
The minister emphasised that the Saudi-Pakistan Business Council plays a significant role in promoting B2B connections between the business communities of both countries by offering a favourable environment. This visit, he claims, will pave the way for the formation of formidable economic ties and the expansion of the company.
The minister said again that when the prime minister went to Saudi Arabia in April 2022, the two countries agreed to strengthen their investment cooperation, build partnerships, make it easier for the private sector to work with investments, and work together to solve problems that investors face.
Multiple sectors, including tourism, coal and gas exploration, agriculture, food processing, mining, renewable energy, refineries, petrochemicals, and information technology, offer abundant prospects for Saudi investment, according to the minister.
During the tour, the party will go to Islamabad, Lahore, Faisalabad, and Karachi and meet with officials of several chambers of commerce and the board of investment. The group will depart Karachi for the kingdom on June 27.
