A high-level delegation of Saudi investors arrived in Islamabad on Sunday to engage in talks on trade and investment opportunities in Pakistan, following directives from Crown Prince Mohammed Bin Salman. The delegation, comprising representatives from approximately 30 companies, was welcomed by Federal Minister for Petroleum Musadik Malik and Minister for Commerce Jam Kamal.
The primary agenda of the visit is to explore investment prospects across various sectors to enhance bilateral trade and strengthen business ties with local entrepreneurs. Minister Jam Kamal emphasized the focus on agriculture, mining, and human resources sectors for promoting bilateral trade.
In addition to these sectors, discussions will also encompass energy, maritime, and other industries. Pakistani companies will present their recommendations to the Saudi investors during the discussions.
A two-day Pakistan-Saudi Arabia investment conference is scheduled to commence on Monday, aiming to further bolster bilateral trade and investment opportunities, ushering in a new phase of growth and prosperity for both nations.
The delegation includes companies from diverse economic sectors such as information technology, telecommunications, energy, aviation, construction, mining exploration, agriculture, and human resource development.
An official from the Ministry of Commerce highlighted that Pakistani companies in these sectors will engage in business-to-business meetings with their Saudi counterparts, with the aim of forging business and investment agreements.
Saudi Arabia, traditionally reliant on oil revenues, is undergoing a transformation to diversify its income sources and enhance competitiveness under the Vision 2030 initiative. This shift presents opportunities for collaboration between Islamabad and Riyadh at governmental and private levels.
Minister Malik noted that 76 Pakistani business companies have been shortlisted for potential collaborations, indicating an increase in cooperation between the two nations. Discussions will cover various sectors including petroleum, electricity, oil refining, and modernization of refineries. Projects ranging from $500 million to $1 billion, as well as larger ventures worth $8-10 billion, will be on the agenda.
The engagement between Saudi investors and Pakistani officials signifies a strategic partnership aimed at mutual economic growth and development.
