Pakistan invites Saudi investors to invest in CPEC SEZs

Islamabad: Federal Minister and Chairman Board of Investment (BOI) Chaudhry Salik Hussain has invited the Saudi investors to bring investment in different sectors of local economy of Pakistan, especially the Special Economic Zones (SEZs) being established under the China-Pakistan Economic Corridor (CPEC).

A high level delegation of Saudi business investors lead by Fahd bin Mohammed Al-Bash, Chairman of the Saudi-Pakistani Business Council and Nawaf Bin Saeed Maliki, Ambassador of Royal Embassy of Saudi Arabia to Pakistan attended a business conference at Prime Minister’s office here.

The minister and chairman Board of investment Chaudhry Salik Hussain along with secretary BOI Fareena Mazhar thanked this esteemed high level VVIP business delegation for visiting Pakistan.

Addressing the occasion the Minister said that there are ample opportunities for Saudi investors in multiples sectors of Pakistan’s economy, especial tourism, coal and gas exploration, agriculture, food processing, mining, renewable energy, refinery, petrochemicals and information technology sectors, to invest with 100% equity or through joint ventures in various fields.

He mentioned that the visit of this high-level business delegation is the first step towards this direction.

Repatriation of investment and profit are allowed with legal protection provisioned under the Acts of Parliament to protect foreign investment in the SEZs and elsewhere, he added.

The Minister contended that the government of Pakistan has placed a strong emphasis on bold economic and regulatory reforms to achieve significant improvement in all sectors of our economy.

The country’s economy has made significant progress, reflecting a blend of stabilization and structural reforms.

The Minister said that this business meet-up, and following meetings in Lahore, Sialkot, Faisalabad and Karachi, will provide a dynamic platform for furthering Pakistan-Saudi Business to Business and Government to Business linkages besides offering us the opportunity to interact and explore new vistas of mutual cooperation including trade and investment opportunities.

The Minister highlighted that the Saudi Pakistan Business Council, is playing a crucial and constructive role in providing a conducive platform to promote business to business (B2B) interactions between the Pakistani and Saudi business communities.

This visit will surely pave way to form formidable economic alliances and facilitate Pakistan-Saudi business growth, he said.

The Minister and Secretary BOI acknowledged that Crown Prince Mohammad Bin Salam projected his Vision-2030 aimed at diversification of Saudi economy away from the traditional oil-based approach.

In this context, Pakistan is keen to join hands with the Kingdom and reduce its excessive reliance on imported oil plan for a sustainable economic future.

Also the Minister reiterated that in the Pak-Saudi Joint Statement issued during the Prime Minister of Pakistan’s visit to Saudi Arabia in April 2022, the two sides agreed to deepen investment cooperation, stimulate partnerships, enable investment integration activities between the private sector the two countries, and work jointly to solve the challenges faced by the investors through holding meetings of the Saudi Pakistan Business Council.