Federal Government to Sign 30 Investment Agreements with Saudi Delegation
The federal government of Pakistan is set to sign approximately 30 investment agreements with a Saudi delegation that arrives today, according to the Commerce Ministry. These agreements will encompass various sectors, including agriculture, information technology, construction materials, petroleum, and power.
The discussions will also focus on critical topics such as food security, meat exports, and the export of Pakistani rice. Additionally, existing contracts concerning mining, oil refineries, and railways will be reviewed in collaboration with Saudi stakeholders. The framework for these investment agreements has already been finalized.
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Saudi Arabia is anticipated to invest over $5 billion in Pakistan by 2027, with an initial investment agreement of $2 billion, as reported by ProPakistani. This initial phase will include a $1 billion contribution from the Saudi private sector.
To further enhance the investment volume, Saudi businesses are planning to appoint local representatives in Pakistan. Other sessions have also been scheduled, including a meeting between Pakistani officials and the Saudi Fund for Development, to review regulatory approvals and the progress of necessary no-objection certificates (NOCs).
This collaboration marks a significant step towards strengthening economic ties between Pakistan and Saudi Arabia, paving the way for enhanced investment opportunities in the country.
