ISLAMABAD: The two-day Pakistan-Saudi Arabia investment conference commenced with optimism as the head of the Saudi delegation expressed their view of Pakistan as a significant economic, investment, and business opportunity. Led by Deputy Investment Minister Ibrahim Almubarak, a 50-member high-level Saudi trade delegation is in Islamabad to explore trade and investment prospects.
The conference, stemming from discussions between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammad Bin Salman, aims to bolster bilateral trade and investment, ushering in a new era of growth for both nations.
Almubarak emphasized Saudi companies’ keen interest in investing in Pakistan, citing the country’s suitability for investment. He hailed the visit as a testament to Saudi Arabia’s prioritization of Pakistan for investment opportunities.
Finance Minister Muhammad Aurangzeb reiterated the government’s commitment to facilitating the private sector for export-led growth, emphasizing the need for foreign direct investment across sectors. He highlighted the government’s role in providing a conducive policy framework while encouraging proactive private sector involvement.
Aurangzeb painted a positive economic picture, citing growth in agriculture GDP and a decline in inflation. He expressed confidence in reducing the current account deficit and strengthening foreign exchange reserves.
Regarding IMF engagement, Aurangzeb announced forthcoming discussions on a new program, emphasizing the government’s focus on macroeconomic stability and structural reforms. He also pledged to expedite privatization efforts and ensure policy continuity for economic stability.
Minister for Petroleum Musadik Masood Malik stressed collaboration between the private sectors of both countries for economic diversification and value addition. He advocated for joint ventures in sectors like mines, tourism, and agriculture, highlighting infrastructure development as crucial for unlocking the wealth potential of both nations.
