29.1 C
New York
Monday, June 17, 2024
HomeNewsSaudi investors explore investment opportunities in Pakistan

Saudi investors explore investment opportunities in Pakistan


Related stories

Modi meets Sullivan as India and US strengthen bilateral ties

Prime minister of India Narendra Modi met US National...

Asian American writer Ganeshanathan wins 2024 Women’s Prize for Fiction

Sri Lankan- American writer V V Ganeshanathan has emerged...

Hunter Biden convicted on Federal firearm charges in landmark case

In a significant legal development, Hunter Biden, son of...

Baltimore’s key shipping lane fully reopens after bridge collapse

THE Baltimore shipping lane blocked for more than two...

Bangladesh has become a ‘one-party’ state, says Muhammad Yunus

Nobel Peace Laureate Muhammad Yunus has openly criticised the...

A delegation from Saudi Arabia, led by Saudi Deputy Investment Minister Ibrahim Al-Mubarak, is currently in Pakistan to assess investment prospects. The delegation is particularly interested in investing in Pakistan’s key sectors, including agriculture, mining, human resources, energy, maritime, and chemicals.

The visit marks the beginning of potential investments, with an initial £3.75 billion Saudi investment package for Pakistan on the horizon. The delegation was warmly received by Commerce Minister Jam Kamal and Petroleum Minister Musadik Malik at the Nur Khan airbase, as per a Ministry of Commerce press release.

The government is actively wooing foreign investors to enhance exports in partnership with Saudi firms. Beyond traditional sectors, IT, religious tourism, telecom, aviation, construction, water, and power generation are also under consideration for investment.

Commerce Minister Kamal highlighted that the visit aims to strengthen trade relations between the two countries and explore investment opportunities across various sectors of Pakistan’s economy.

During a recent meeting, Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman agreed to fast-track the first phase of the planned £3.75 billion Saudi investment package for Pakistan.

- Advertisement -

Pakistan and Saudi Arabia enjoy robust trade, defense, and cultural ties, with over 2.7 million Pakistani expatriates residing in the Kingdom. Saudi Arabia plays a crucial role in Pakistan’s economy, serving as a major source of remittances and aiding in addressing economic challenges.


- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories