Pakistan Saudi Arabia Investment Conference Commences in Islamabad
Islamabad: The investment conference between Pakistan and Saudi Arabia, which had been eagerly awaited for two days, began on Monday to positive sentiments. The chief of the Saudi delegation conveyed Riyadh’s trust in Islamabad as a “suitable” location for investments.
A high-level Saudi trade delegation of fifty individuals, headed by the Deputy Investment Minister of Saudi Arabia, Ibrahim Almubarak, has arrived in Islamabad to investigate various trade and investment opportunities.
Following discussions between Saudi Crown Prince Mohammad Bin Salman and Prime Minister Shehbaz Sharif, decisions were reached to strengthen bilateral trade and investment and usher in a new period of prosperity and expansion for both countries. These decisions have prompted the convening of the conference.
In his address to the assembly, Almubarak emphasized Saudi corporations’ strong inclination to invest in Pakistan, attributing this to the nation’s appealing investment climate. The speaker highlighted that the Saudi delegation’s visit represents the Saudi government’s and companies’ dedication to giving Pakistan top priority regarding investment prospects.
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Almubarak emphasized the substantial contributions made by Pakistanis towards the progress of the Kingdom and conveyed the urgency of Saudi investors to allocate their capital across diverse sectors in Pakistan.
During the opening session, Finance Minister Muhammad Aurangzeb reaffirmed the government’s dedication to supporting the private sector to guide the nation towards development driven by exports. He underscored the government’s determination to entice foreign direct investment to stimulate growth in diverse industries and emphasized the optimistic trajectory of the Pakistani economy.
In his comprehensive assessment of the nation’s economic condition, Aurangzeb conveyed assurance regarding the current account deficit’s diminution and the domestic currency’s stability. Furthermore, he emphasized the government’s endeavours to establish a longer-term partnership with the International Monetary Fund (IMF) to implement structural reforms and ensure macroeconomic stability.
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Minister for Petroleum Musadik Masood Malik emphasized the significance of private-sector collaboration between Saudi Arabia and Pakistan in achieving economic prosperity and diversification.
He underscored the importance of collaborative endeavours in various sectors, including agriculture, tourism, minerals and minerals, and infrastructure development.
The conference functions as a forum to foster enhanced economic relations between Pakistan and Saudi Arabia, establishing the foundation for mutually advantageous partnerships and financial investments that guarantee progress and affluence for both countries.
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