Saudi Minister for Investment has reached Islamabad on a three-day visit, along with the Saudi Minister, 130 investors have also arrived in Pakistan. Two billion dollar investment agreements are expected between Saudi Arabia and Pakistan, in this regard, the framework for investment agreements with Saudi Arabia has also been prepared, while the Saudi delegation will also meet with the President and the Prime Minister.
When the Saudi delegation reached Pakistan, they were welcomed by Mossadegh Malik, Jam Kamal, Aleem Khan and others. Saudi ambassador Nawaf bin Saeed al-Maliki was also present at Noor Khan Airbase.
According to the sources, there will be a total investment of more than 5 billion dollars by Saudi Arabia by 2027 and in this regard, about 30 agreements will be signed with Saudi Arabia for investment in various sectors.
In total, a delegation of about 40 companies from the government and private sector will arrive in Pakistan for investment. Agreements on agriculture, information technology, construction materials will be signed with Saudi Arabia. The Saudi delegation will also sign agreements in the petroleum sector and the power sector.
Apart from this, agreements will be signed for food security, meat export, Pakistani rice export. The progress of contracts for mining, oil refinery, railways will also be reviewed. In the first phase, the private sector from Saudi Arabia will invest about one billion dollars in Pakistan.
The private sector will increase the volume of investment by appointing its local representatives in Pakistan. Private sector will make more investment in Pakistan on behalf of Saudi Arabia. The official delegation of Saudi Arabia will discuss projects under the Saudi Fund for Development. Both government agencies and private sector have scheduled meetings with different authorities in Pakistan. Sources say that regulatory approval for the investment has been given at the government level while the progress related to the NOC will also be reviewed.
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