Saudi delegation set to arrive in Pakistan for investment talks on May 05

May 03, 2024 (MLN): To facilitate business-to-business (B2B) meetings, a Saudi Arabian business delegation is set to visit Pakistan on May 05, according to official sources.

Sources close to the matter revealed that Prime Minister Shehbaz Sharif formed a 16-member steering committee ahead of the arrival of Saudi Arabian business delegation, with the Petroleum Minister appointed as its chairman.

To note, Saudi Arabia Foreign Minister Prince Faisal Bin Farhan Al Saud, heading a delegation, arrived on a two-day visit in Pakistan on April 16-17.

He had expressed great significance and interest in the improving investment ecosystem in Pakistan.

The Saudi side had appreciated Special Investment Facilitation Council’s (SIFC) role in amicable resolution of KSA's legacy investment/business-related issues and had shown keen interest in investing in key sectors of Pakistan.

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

The two sides had 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.

Saudi Foreign Minister had 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.

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