Pakistan

ISLAMABAD (Staff Report) – President Mamnoon Hussain has urged Saudi investors to invest in Pakistan, especially, in energy, infrastructure, agriculture and livestock fields and benefit from the high profit yielding business environment.

In a meeting with Saudi Parliamentary delegation led by Dr. Abdullah Bin Mohammed Bin Ibrahim Al-Sheikh, Chairman of the Shura Council at the Aiwan-e-Sadr, the President said that investment policy has created an investment friendly environment by opening all sectors of economy for Foreign Direct Investment (FDI), guaranteeing equal treatment of foreign and domestic investments, protecting foreign investment, introducing a liberal foreign exchange regime and providing one window operation.

“The Government and the people of Pakistan hold the Royal Family in high esteem and have highest respect for the Custodian of the two Holy Mosques, King Salman Bin Abdul Aziz Al Saud”, said President Mamnoon Hussain. The President expressed his satisfaction at cooperation of the two countries at the regional and international fora and further said that the relations between the two brotherly countries are deep rooted in common faith, culture, history and heritage.

The President remarked that the large Pakistani community in Saudi Arabia is a human bridge between our two brotherly countries and that they have been playing an important role in the development and prosperity of both Pakistan and Saudi Arabia. President Mamnoon Hussain further said that Pakistan has a huge resource of manpower that could be used for further development of Saudi Arabia.

President Mamnoon Hussain expressed his satisfaction on the level of defence cooperation between the two brotherly countries and offered the Muslim countries to avail training facilities at the Pakistan Defence institutions.

President Mamnoon Hussain said that Pakistan has welcomed the formation of 35-nation coalition to counter terrorism and extremism and reiterated Pakistan’s commitment for peace and prosperity in the region in cooperation with the countries of the region particularly Saudi Arabia. The President assured that Pakistan will fully stand by Saudi Arabia in the event of any threat to its territorial integrity.

Dr. Abdullah Bin Mohammed Bin Ibrahim Al-Sheikh, Chairman of the Shura Council said that Pakistan and Saudi Arabia are bound together in strong bonds of common religion and culture and that Saudi Arabia accords highest priority to good relations with Pakistan.

The Chairman of the Saudi Shura remarked that Saudi investment in Pakistan is low in comparison to the strong political relations and hoped that the Saudi investors will take full benefit of the immense investment potential that exists in Pakistan. Dr. Abdullah Bin Mohammed Bin Ibrahim Al-Sheikh conveyed the best wishes of King Salman Bin Abdul Aziz Al Saud and the Crown Prince for the government and the people of Pakistan.

President Mamnoon Hussain welcomed Dr. Abdullah Bin Mohammed Bin Ibrahim Al-Sheikh and his delegation on their visit to Pakistan and extended an invitation to King Salman Bin Abdul Aziz Al Saud and the Crown Prince to visit Pakistan at their earliest convenience.