Saudi Investment Minister Affirms Commitment to Boost Investment in Pakistan

Saudi Minister of Investment Khalid bin Abdulaziz Al-Falih stated his commitment to increasing investment in Pakistan during his address at the Pakistan-Saudi Arabia Business Forum held in Islamabad.

Al-Falih characterized Pakistan as a “second home” to Saudi Arabia, emphasizing the familial bond between the two nations. He remarked on the rich history of collaboration and noted the deep economic and social interconnections that define their relationship. He also highlighted the shared religious and spiritual heritage that binds the two countries.

The minister pointed out that around 2.5 million Pakistanis are currently contributing to various sectors in Saudi Arabia, underscoring their significant role in the Kingdom’s development.

Al-Falih described the business forum as an ideal platform for entrepreneurs and stressed the importance of robust economic cooperation between the two countries. He highlighted the substantial potential for development in the Middle East and South Asia, urging both nations to work together towards achieving regional prosperity.

He reported a notable increase in bilateral trade and emphasized the importance of leveraging geographical proximity to bolster commercial ties. The facilitation offered by the Saudi International Finance Centre (SIFC) is vital, with the expanding trade volume between the two countries serving as clear evidence of their growing economic partnership.

In addition, the Saudi Investment Minister announced the upcoming signing of 27 memorandums of understanding (MOUs), which he described as crucial milestones in bilateral economic cooperation. These agreements are intended to solidify the commitment to enhancing trade and investment relations between Saudi Arabia and Pakistan.