Saudi Arabia eyes significant investment opportunities in Pakistan

MG News | April 17, 2024 at 09:55 AM GMT+05:00

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April 17, 2024 (MLN): Foreign Minister of Saudi Arabia on Tuesday expressed great significance and interest in the improving investment ecosystem in Pakistan, said a press release issued by the Prime Minister’s office.

The high-level Saudi delegation led by Foreign Minister Prince Faisal bin Farhan attended the 'Saudi Arabia-Pakistan Investment Conference' held in Islamabad yesterday.

The Saudi side expressed appreciated Special Investment Facilitation Council’s (SIFC) role in amicable resolution of KSA's legacy investment/business related issues, and showed keen interest to invest in key sectors of Pakistan.

The Pakistan side assured the Saudi side of maximum support and facilitation in fast-tracking the Kingdom's prospective multibillion dollars investments in Pakistan.

The two sides also finalized a bilateral implementation mechanism to closely coordinate and execute investment related matters at the functional level to turn the sovereign commitments into tangible economic outcomes.

The Foreign Minister emphasized the deep-rooted ties and mutual strategic interests between Pakistan and Saudi Arabia.

He highlighted the significance of enhanced bilateral strategic and economic partnership and the crucial role of Saudi investments in nurturing this relationship.

He explained how Pakistan through the SIFC platform aimed to streamline investment processes and ensure rapid decision-making, fostering a flourishing investment-friendly environment in Pakistan.

He showcased Pakistan's abundant opportunities in agriculture, IT, and mining sectors, inviting Saudi investors to engage in mutually beneficial partnerships.

The Foreign Minister expressed confidence in the strengthened bonds between the two countries, envisioning significant economic growth and lasting benefits.

He concluded with a call for constructive engagement and collaboration towards mutual prosperity and development.

The SIFC officials gave comprehensive briefings encompassing the potential and investment opportunities in key sectors of Pakistan's economy.

Both sides held exhaustive deliberative sessions at functional level to crystallize investment opportunities in Pakistan.

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