PM invites Saudi businessmen for investment in Pakistan

June 20, 2022: Prime Minister Shehbaz Sharif on Monday invited Saudi businessmen to make investments in various economic sectors of Pakistan as the government would facilitate investors in every way possible, and remove hurdles and red-tapism.

Speaking to a delegation of Saudi businessmen and investors at a reception here, he assured the investments of Saudi businessmen would be fully secure, and they could earn and repatriate their profits.

The PM said it was a great pleasure to welcome the Saudi businessmen to Pakistan - their second home. “This is like a reunion of a family. We are here this evening to share our views.”

He thanked Saudi Crown Prince Mohammed bin Salman and expressed gratitude to him for his warm welcome to the Pakistani delegation led by him, on its arrival in Saudi Arabia.

"We have fond memories of our visit to Saudi Arabia and have gratitude for the Saudi Crown Prince for his warm welcome to me and my delegation.”

The Saudi Crown Prince reassured that Saudi Arabia would always support Pakistan in every walk of life including trade, investment, and on the diplomatic front, he recalled.

The prime minister said since its inception Pakistan always received unconditional diplomatic and material support of all kinds from Saudi Arabia.

“We don’t have enough words to express feelings of gratitude and sincere thanks for unqualified support by Saudi Arabia for the last 70 years.”

He said Saudi King Salman bin Abdul Aziz and Crown Prince Mohammed Bin Salman gave billions of dollars in financial support to Pakistan, including Saudi deposits placed in the State Bank of Pakistan and deferred oil payment facility.

In the previous years, Saudi Arabia also gave a similar kind of support to Pakistan, which would be remembered for the generations to come, he noted.

Shehbaz said Pakistan and Saudi Arabia had a unique and special relationship, and the two countries were like a family with one soul and two hearts.

He urged the Saudi investors to sit down with the Pakistani government ministers and local businessmen to chart out a programme and build a road map to enhance the Saudi investment and trade with Pakistan.

He identified agriculture, agro-industry, minerals, oil, and water resources as some of the potential areas for Saudi investment.

Pakistan had comparatively cheap labor, and Pakistan and Saudi Arabia through joint ventures could compete with other countries and export their products, he continued.

The prime minister observed that the Saudi Crown Prince had transformed Saudi Arabia, making it a modern country while keeping intact its Islamic culture.

"Millions of people visit the holy places in Makkah and Madina and its capital Jeddah every year," Shehbaz said, adding, “We should do something together which makes our coming generations proud. Joint ventures will be a win-win for Saudi Arabia and Pakistan.”

APP