Saudi Arabia Prioritizes Investment in Pakistan, Highlights Cooperation in Key Sectors

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Islamabad, In a series of high-profile meetings on the sidelines of the World Economic Forum’s special session in Riyadh, Saudi Minister for Investment Khalid A Al-Falih reaffirmed Saudi Arabia’s commitment to prioritizing investments in Pakistan, particularly in agriculture, Information Technology, and energy sectors.

According to Ministry of Information and Broadcasting, during discussions with Prime Minister Shehbaz Sharif, Minister Al-Falih lauded Sharif’s proactive approach to governance, endorsing his development initiatives for Pakistan. The Saudi Minister expressed full support for Sharif’s mission and announced that a delegation of Saudi investors would soon visit Pakistan to explore further investment opportunities. Additionally, Al-Falih acknowledged the significant contributions of the Pakistani diaspora in various sectors within Saudi Arabia.

In a separate meeting with Saudi Finance Minister Mohammed al-Jadaan, both leaders concurred on enhancing Saudi investments in Pakistan, reflecting a mutual interest in bolstering economic ties and supporting Pakistan’s development, which Al-Jadaan described as synonymous with progress for Saudi Arabia itself. He referenced the Kingdom’s Vision 2030 as a framework for transformative reforms and increased foreign investment.

Furthermore, Saudi Minister for Industry Bandar al-Khorayef expressed his keen interest in advancing cooperation with Pakistan across multiple sectors, including agriculture and IT. Al-Khorayef noted ongoing communications with Saudi private companies about investments in Pakistan, emphasizing the priority for joint ventures between the private sectors of the two nations.

Prime Minister Sharif expressed gratitude towards King Salman bin Abdulaziz Al-Saud, Crown Prince Mohammad bin Salman Al-Saud, and the Saudi ministers for their steadfast support throughout various challenges. Sharif highlighted the strategic partnership between Pakistan and Saudi Arabia, underscoring its importance in the regional and global context.