Pakistan–Saudi economic cooperation is set to expand as Punjab Chief Minister Maryam Nawaz inaugurated the Special Saudi Industrial State, granting Saudi investors a 10-year tax-free status and major incentives to boost multi-sector growth.
During a meeting in Lahore with Prince Mansoor bin Mohammed bin Saad Al Saud, Chairman of the Pakistan-Saudi Business Forum, Saudi delegates praised Punjab’s development vision and expressed interest in key sectors such as livestock, mining, IT, infrastructure, energy, and tourism.
Maryam Nawaz announced a 10-year income tax exemption, a one-time customs duty waiver, and a fast-track business facilitation system at the CM Office to ensure smooth operations for Saudi investors. The delegation also reviewed collaboration in Punjab’s Mashaher and Muqaddasah metro projects under the “Zero Time to Start” policy, aimed at immediate project execution.
To further enhance cooperation, the CM proposed joint working groups with 30-, 60-, and 90-day action plans, alongside the establishment of Pakistan’s first Business Central District in Lahore — the second of its kind in the region for Saudi investors.
Prince Mansoor lauded Pakistan as a top investment destination, emphasizing strong business partnerships and expressing gratitude for Punjab’s hospitality.
In relavent developments, also read Almubarak Optimistic About Saudi Investments In Pakistan
