Achi news desk-
ISLAMABAD (Web Desk) A delegation comprising Saudi Arabia’s top investors and businessmen as well as government officials has arrived in Pakistan under the leadership of Saudi Deputy Minister of Investment Ibrahim Al Mubarak.
The Saudi Arabian delegation includes investors from more than 30 companies, the delegation will explore new trade and investment opportunities in Pakistan.
Federal Trade Minister Jamal Kamal has said after the arrival of the investment delegation from Saudi Arabia to Pakistan that the purpose of the visit of the delegation of the friendly and brotherly country Saudi Arabia is to find business opportunities and further promote investment and trade relations in them.
Jam Kamal said that Pakistani companies will share business and investment proposals with Saudi companies. A large number of Pakistani companies have been selected for meetings with the Saudi counterpart. After that top Pakistani companies will be associated with 30 Saudi companies in various sectors.
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He said that the existing refinery, IT, religious tourism, telecommunication and other sectors will also be covered. Saudi and Pakistani companies and investors will be looking for investment opportunities.
The Federal Trade Minister said that the objective is to promote export opportunities by creating jobs in both countries, it is expected that many companies will be able to do business, investment deals.
This development comes at a time when Prime Minister Shehbaz Sharif went to Saudi Arabia a few days ago to attend a special meeting on global cooperation, development and energy for development in Riyadh, where he met Crown Prince Muhammad bin Had to discuss various issues with Salman.
It was his second visit to Saudi Arabia within a month of his inauguration in early April as Islamabad hopes for billions of dollars in investment from Saudi Arabia to revive an economy plagued by persistent inflation and high interest rates.
However, inflation has fallen significantly over the past four months and the Consumer Price Index (CPI) stood at 17.3 per cent, reinforcing the sense that the central bank could start cutting interest rates soon.
According to the official X account of the Government of Pakistan, the delegation will attend business-to-business (B2B) meetings focusing on trade agreements and investments in joint ventures with Pakistani businessmen.
The statement added that discussions have been organized in different sectors of the economy and that some progress is also expected on Government-to-Business (GiB) and Government-to-Government (GiG) agreements.
A delegation of 40 to 50 members will participate in the 3-day Pak-Saudi Investment Conference on the special instructions of the Saudi Crown Prince.
It should be remembered that after Shahbaz Sharif’s first visit to Saudi Arabia, Saudi Arabia’s Foreign Minister, Faisal bin Farhan, visited Pakistan when both sides agreed to proceed with investment projects in Pakistan.
The visiting team will review the attractive opportunities offered by Pakistan, while representatives of around 30 companies representing sectors such as technology, energy, aviation, construction, mining and human resources will interact with senior officials from relevant sectors.
Sources say the visit will lead to the signing of agreements related to PIA, Bhasha Dam, Information Technology, Mining, Chemicals and Meat Production.
