High-level Saudi business delegation to arrive in Pakistan tomorrow

A 50-member high-level business delegation from Saudi Arabia is expected to arrive in Pakistan tomorrow (Sunday), reported Aaj News on Saturday.

The business delegation will comprise of officials from 30 companies representing a range of sectors, including technology, energy, aviation, mining, and human resources.

In the face of various economic challenges, such as a bulging external account debt and low foreign investment, Islamabad has increased its engagement with bilateral partners, including the GCC countries, particularly Saudi Arabia, inviting them to invest in agriculture, IT, and mining.

On Friday, Prime Minister Shehbaz Sharif chaired a high-level review meeting regarding the progress of Saudi investment and projects in Pakistan.

The meeting was informed in detail about the visit of the prime minister to Saudi Arabia, as well as the arrival of the Saudi Arabian business delegation to Islamabad and the expected investment in the sectors.

Furthermore, the prime minister expressed his gratitude to the Saudi leadership for offering all kinds of support for Pakistan’s development and prosperity during his recent visit to Saudi Arabia.

According to the prime minister, he hopes the meetings between Pakistani businessmen and the Saudi delegation will be fruitful.

Saudi Foreign Minister, Faisal bin Farhan Al Saud, said last month there is a great opportunity to increase investment, which is already on the table, through overcoming “hurdles.”

“I believe there is (a) significant possibility of increasing the level of investment that is already planned,” he said.

He said that Saudi Arabia strongly believes in the potential that Pakistan holds, especially, in the economic development side there is a lot of untapped potential, which needs to be utilised.