ISLAMABAD – Pakistan, Saudi Arabia Investment Forum kickstarted as Asian nation looking to get massive investment from Kingdom to boost its ailing economy.
During the investment talks, Saudi Deputy Investment Minister Ibrahim Almubarak said Pakistan holds significant economic, investment, and business potential. He highlighted Riyadh’s belief in economic prospects of Pakistan, citing its demographic, geographic, and natural resource advantages.
Almubarak said both sides hold strategic partner which is rooted in shared faith, culture, and values.
He called this conference an opportunity to deepen understanding of Pakistan’s investment potential, expressing confidence in elevating the partnership between both countries.
Meanwhile, Pakistan’s Finance Minister Muhammad Aurangzeb reiterated the current government’s commitment to support private sector for export-led growth.
He highlighted positive economic indicators, including 5pc growth in agriculture GDP and a stable local currency, with inflation decreasing to approximately 17pc. He expressed confidence in reducing the current account deficit to less than a billion dollars and mentioned increased foreign buying in the Pakistan Stock Market.
Aurangzeb also discussed plans for a larger and longer IMF program, aiming for macroeconomic stability and structural reforms.
Meanwhile, Minister for Petroleum Musadik Masood Malik stressed the need for collaboration between the private sectors of both countries to diversify the economy and add value. He emphasized cooperation in sectors like mines and minerals, tourism, and agriculture, suggesting participation in infrastructure development for mutual prosperity.
Pakistan welcomes high-level Saudi delegation for investment talks
