Islamabad: The Pakistan-Saudi Arabia investment conference commenced on Monday in Islamabad, marking a significant stride in bilateral economic relations. The two-day event welcomed a high-level delegation from Saudi Arabia, led by Deputy Investment Minister Ibrahim Almubarak, aiming to explore investment opportunities and deepen trade ties between the two nations.
During the conference, which follows recent discussions between Pakistani Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammad Bin Salman, Minister Almubarak emphasized Saudi Arabia’s view of Pakistan as a highly suitable investment destination. He remarked that the Saudi delegation’s visit is a continuation of the previous visit, and the Saudi government and companies are giving preference to Pakistan for investment.
Finance Minister Muhammad Aurangzeb, also speaking at the conference, affirmed the Pakistani government’s dedication to fostering an environment conducive to private sector-led growth and significant foreign direct investment inflows. Highlighting a promising economic outlook, Aurangzeb noted the agriculture sector’s growth and the stability of the Pakistani currency, alongside improvements in the country’s stock market and foreign reserves.
The conference is set against the backdrop of Pakistan’s ongoing efforts to secure a comprehensive and enduring arrangement with the International Monetary Fund (IMF), with Aurangzeb indicating upcoming discussions with the IMF aimed at solidifying Pakistan’s macroeconomic stability.
Minister for Petroleum Musadik Masood Malik also took the podium to underscore the potential for collaboration in key sectors such as energy, tourism, and agriculture, suggesting that infrastructure development could unlock considerable economic benefits for both nations.
As the conference progresses, it is expected to lay the groundwork for increased Saudi investments in Pakistan.
It is worth noting that a high-level trade delegation from Saudi Arabia, Deputy Investment Minister Ibrahim Almubarak, consisting of 50 members arrived in Pakistan on Sybday to explore mutual investment opportunities.
Sources reported that top Pakistani companies will engage with 30 Saudi companies across various sectors. The business-to-business (B2B) meetings will focus on sectors such as agriculture, mining, human resources, energy, chemicals, and maritime.
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