A business delegation from Saudi Arabia under the Chairman Saudi-Pak Business Council, Fahad Bin Muhammad Al-Bash, visited Pakistan to explore trade and find new investment opportunities. The meeting was held in Islamabad, which was a B2B meeting with the members of the Chamber of Commerce and Industry (ICCI).
The members of the Saudi Business Delegation showed their keen interest in exploring business collaboration in various sectors, including business materials, tourism, health care, pharmaceuticals, medical tools, and Oil and infrastructure services. This report was released by the press, whereas the Saudi investors and delegation also visited Lahore and Karachi.
In our article, we will discuss this Business event in PM House in detail.
Why Pakistan Invites Saudi Delegation to Pakistan
This delegation is invited by the government of Pakistan to find out about new business opportunities in Pakistan. As Pm Shehbaz Sharif visited Saudi Arabia on the 28th of April 2022, a meeting was held under the high-level delegation and Crown prince Mohammad bin Salman. In which the PM showed interest and invited the Saudi Trade Delegation.
The only purpose of that invitation is to help Pakistan to reduce the inflation rate and unstable economic conditions betterment and to build both governments’ strong relationships.
Saudi Business Delegation in Islamabad
At a business conference at PM Office Islamabad, the chairman of the Saudi-Pak Business Council said that our top investors are interested in investing in Pakistan. He also said that our interest in investing in this country would help both countries in a number of different aspects. Most importantly, this act will assist us in keeping good relationships with each other.
The investment of Saudi Investors will also focus on strengthening trade relations to achieve better results. The Chairman said in the Saudi Business delegation in Islamabad that currently, 20 percent of the workforce in KSA is from Pakistan, and we are planning to import more skilled workers from Pakistan.
The business delegation also showed their interest that Pakistani investors should invest in different sectors of Saudi Arabia. The Government of Saudi Arabia will provide an opportunity for Pakistani investors to invest in Real Estate, tourism, and the chemical industry.
There will be the most important step taken by both countries is that KSA will import products from Pakistan, and Pakistan will import products from Saudi to promote a well-organized import-export culture.
Saudi Arabia’s knowledge is that Pakistan is full of natural resources and full of business opportunities; the delegation stated that both embassies strive to find out the best location for investment that offer the maximum results.
The president of the Islamabad Chamber of Commerce and Industry, Muhammad Shakeel Munir, provided all of the information to the Saudi business delegation regarding the investment opportunities and offered them to invest in different economic sectors.
The business delegation of Saudi responded positively as they have plenty of space for investment in mines & minerals, oil & gas, housing & construction, infrastructure development, renewable energy, information technology, food processing, edible oil, logistics, sports, and tourism & hospitality.
In the meeting, Muhammad Shakeel Munir also offers to the delegation to explore their investment opportunities in textile, agriculture, construction materials, medical equipment, pharmaceuticals, fruits, vegetables, dry fruits, consumer goods, and Agro-processing technologies, machinery & equipment, and other sectors.
Investment in these sectors will lead investors to earn huge returns; it is the right time for Saudi investors to focus on Pakistan’s Joint Venture investment.
The Chairman of the Founder Group, Khalid Iqbal Malik, pointed out the billion- and trillion-dollar project CEPC to find out the investment opportunities in it; in response, the delegation showed their interest in exploring opportunities in CPEC and Gwadar.
In Saudi Business Delegation, it was announced by them that Saudi Arabia is agreed to establish the billion dollars refinery complex in Gwadar.
Conclusion
We anticipate that the Saudi business delegation meeting will be significantly better for Pakistan’s promising future. It is a significant move on the part of the Pakistani government to boost economic growth and investment opportunities.
Vice President of the ICCI Muhammad Faheem Khan thanked the Saudi trade delegation for visiting Pakistan and expressed the hope that their journey would usher in a new era of expanding trade and economic relationship between the two nations.
Saudi Business Delegation in Pakistan to Explore Investment
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