LAHORE – Pakistan-Saudi economic ties are expected to grow further as Punjab Chief Minister Maryam Nawaz unveiled Special Saudi Industrial State, offering Saudi investors massive incentives and tax-free environment to fuel multi-sector growth.
The announcement came during a high-profile meeting in Lahore with a delegation led by Mansoor bin Mohammed bin Saad Al Saud, Chairman of the Pakistan-Saudi Business Forum. Punjab’s ambitious development projects and public welfare initiatives were showcased in detail, earning praise from Saudi representatives, who expressed keen interest in sectors spanning livestock, mining, infrastructure, meat, IT, energy, agriculture, tourism, and logistics.
CM Maryam Nawaz revealed that industrial state will provide a 10-year tax holiday, a 10-year income tax exemption, and a one-time customs duty waiver for Saudi investors. To further accelerate business setup, a fast-track system at the CM Office will ensure smooth operations and immediate execution of investment plans.
The delegation explored opportunities in Punjab’s Mashaher and Muqaddasah metro train projects under the Punjab Mass Transit Authority. Highlighting the government’s “Zero Time to Start” policy, Maryam Nawaz stressed that Punjab’s skilled and youthful workforce, combined with the province’s investor-friendly policies, guarantees no delays, only immediate delivery.
To strengthen bilateral cooperation, the CM proposed joint working groups between Pakistan and Saudi Arabia in priority sectors, with actionable 30-, 60-, and 90-day plans. In a historic move, she also announced the creation of Pakistan’s first Business Central District in Lahore, making the country only the second in the region to host such an initiative for Saudi investors.
Saudi Prince Mansoor bin Mohammed bin Saad Al Saud lauded Pakistan as a promising investment destination, highlighting that the delegation’s visit was as much about business as it was about supporting their Pakistani partners. He expressed heartfelt appreciation for Lahore’s hospitality and recognized Pakistan as one of Saudi Arabia’s top three partner countries.
