ISLAMABAD Following the signing of more than two dozen agreements with businesses from both countries, Saudi businessmen have voiced their optimism for fruitful partnerships in Pakistan, claiming that the nation’s enhanced regulatory environment and economic stability have made it a desirable place to invest. Khalid bin Abdulaziz Al-Falih, the Kingdom’s Investment Minister, travelled to Pakistan for three days with a delegation of more than 130 people, including representatives from Saudi businesses that specialise in mining, minerals, energy, commerce, tourism, industry, and labour.
The group inked 27 memorandums of understanding and agreements with various Pakistani enterprises on Thursday, totalling over $2 billion. Sultan Al-Mansour, head of All Care Medical Group, told Arab News that Pakistan was steadily achieving economic stability and that “we saw much change in (Pakistan’s business) regulations which have become much softer.” “With all of that good news, Pakistan is becoming a good place to invest.” Pakistan established the Special Investment Facilitation Council, a civil-military hybrid body, in June 2023 to assist international companies, especially those from the Gulf.
The Saudi investor expressed hope for fruitful partnerships, stating that his company has inked two agreements with Pakistani companies that produce surgical instruments and work in the pharmaceutical sector. “In the near future, our (Pakistani) partners will be opening a factory in Saudi Arabia,” he said, adding that the South Asian nation was a large market with abundant human resources and expertise. Al-Mansour claimed to have partnered with Hilbro, a Pakistani business that will provide surgical supplies to his business in the kingdom.
Also Read:
Guidelines for Beach Tourism are Issued by the Saudi Red Sea Authority
At the Riyadh Event, a Saudi Physician gives a Heartfelt Statement about Altruistic Healthcare
