Saudi Minister Ibrahim al-Mubarak expressed confidence in Pakistan as a favorable investment destination at the Pakistan-Saudi Arab Investment Forum. A 50-member Saudi delegation has visited Pakistan to explore investment prospects in various sectors, aiming for 10 to 15 billion US dollars commitment. Pakistani officials are set to present investment proposals to the delegates.
ISLAMABAD: Pakistan’s Finance Minister Mohammad Aurangzeb addressing inaugural ceremony of Pakistan-Saudi Arab Investment Forum said that good policies bringing economic stability, ARY News reported on Monday.
Saudi minister Ibrahim al-Mubarak addressing the inaugural ceremony said,” We think Pakistan is very suitable country for investment”.
A high-level trade delegation from Saudi Arabia headed by deputy minister for investment Ibrahim al-Mubarak has arrived in Pakistan to explore investment opportunities in different sectors as well as to forge strong bonds with local entrepreneurs.
Finance minister Mohammad Aurangzeb said that Pakistan’s currency has stabilized in last 10 months. “Economic reforms, is our agenda. We are also taking steps to resolve the energy crises,” minister said.
“Pakistan deems the Saudi Arabia as big brother, we are needed to move forward jointly,” Petroleum Minister Musadiq Malik said.
The 50-member Saudi delegation includes representatives of about 35 companies, representing various economic sectors.
Pakistani officials expecting 10 to 15 billion US dollars investment commitment during the Saudi delegation’s visit included heads of companies dealing in agriculture, telecommunication, construction and other sectors.
Pakistani companies will share their investment proposals with Saudi delegates in agriculture, mining, human resources, energy and other sectors. Potential opportunities in IT, religious tourism and telecom sectors would also be discussed.
The recent statement by the Saudi minister regarding the suitability of Pakistan for investment has shed light on the opportunities the country presents. With its strategic location, large consumer base, and growing economy, Pakistan offers a promising environment for investors. The government’s initiatives to improve ease of doing business, coupled with investment-friendly policies, further enhance the appeal of the country. Moreover, the development of infrastructure, particularly under the China-Pakistan Economic Corridor (CPEC) project, is set to catalyze growth and provide a conducive ecosystem for businesses. As Pakistan aims to diversify its economy and attract foreign investment, various sectors such as energy, technology, and consumer goods are witnessing significant potential. The evolving business landscape and the proactive measures taken by the government position Pakistan as an attractive investment destination. Furthermore, the cultural and historical richness of the country adds a unique dimension, making it an appealing choice for investors looking for opportunities with long-term potential. It is clear that Pakistan is poised to become a hub for investment, offering great prospects for those seeking to participate in its growth story.
Source: ARY NEWS
Summary:
Pakistan’s Finance Minister and a high-level trade delegation from Saudi Arabia have expressed confidence in Pakistan’s potential for investment. The Saudi minister highlighted Pakistan’s suitability for investment, while the finance minister emphasized economic stability and reforms. The visit aims to explore investment opportunities in various sectors and strengthen bilateral relations. Pakistani officials anticipate significant investment commitments during the delegation’s visit, particularly in agriculture, telecommunication, construction, mining, human resources, IT, religious tourism, and telecom sectors. The collaboration between the two countries is expected to pave the way for substantial economic growth and development.
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