KARACHI: The Saudi Ministry of Investment supports AlBaik’s expansion efforts in the Islamic Republic of Pakistan.
In a pioneering step that reflects the Kingdom’s Vision 2030 to enhance national exports and knowledge and open new horizons for Saudi commercial expansion globally, under the patronage of the Saudi Ministry of Investment, a Memorandum of Understanding was signed between the Saudi company AlBaik and the Pakistani company GO. This MoU aims to explore the possibility of establishing a strategic partnership to set up and operate AlBaik restaurants in Pakistan, as part of the company’s expansion strategy.
The signing ceremony took place under the patronage of, the Minister of Investment, Engineer Khalid Al-Falih, and in the presence of Shehbaz Sharif, Prime Minister of Pakistan, as well as, General Syed Asim Munir, NI (M), Chief of Army Staff of Pakistan and a high-level delegation from both Saudi Arabia and Pakistan. This event is the result of the dedicated efforts of the Ministry of Investment to enable Saudi brands to expand internationally and to enhance the Kingdom’s position in the global economic arena.
It is noteworthy that GO, in which Saudi Aramco acquired a 40% stake, is one of the leading oil marketing companies in Pakistan. This partnership reflects the Kingdom’s commitment to diversify its economy and create new growth opportunities in foreign markets.
This initiative underscores the pivotal role played by the Ministry of Investment in achieving the objectives of Vision 2030 and enhancing the Kingdom’s position as a leading economic power on both the regional and global levels.
Copyright Business Recorder, 2024
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