A promising investment future .. Saudi Arabia funds projects in Pakistan

0
13


Saudi Arabia and Pakistan discussed strengthening and enhancing economic and trade relations between the two countries, in light of the Kingdom’s Vision 2030.

On Friday, Prince Muhammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense of Saudi Arabia, received at the Royal Court at the Peace Palace in Jeddah, Imran Khan, Prime Minister of the Islamic Republic of Pakistan.

According to the Saudi Press Agency, the Saudi Crown Prince and the Prime Minister of Pakistan witnessed the signing of two agreements and two bilateral memoranda of understanding between the Kingdom of Saudi Arabia and the Islamic Republic of Pakistan.

The two countries signed a framework memorandum of understanding to finance eligible projects in the fields of energy, infrastructure, transportation, water and communications between the Saudi Fund for Development and the Islamic Republic of Pakistan.

It was signed on the Saudi side by Ahmed Al-Khatib, Minister of Tourism and Chairman of the Board of Directors of the Saudi Fund for Development, while it was signed on the Pakistani side by Makhdoom Shah Mahmood Qureshi, Minister of Foreign Affairs.

The two sides held a session of talks in which they discussed ways to strengthen and enhance economic and trade relations between the two countries by exploring areas of investment and opportunities available in light of the Kingdom’s Vision 2030, and the development priorities in Pakistan.

They confirmed their satisfaction with the strength of bilateral military and security relations, and agreed to further cooperation to achieve common goals between the two countries.

The Pakistani Prime Minister congratulated the government of the Kingdom of Saudi Arabia for its success in organizing and holding the G20 summit meetings and the positive decisions that resulted from them in all economic, developmental, environmental, health, energy and other fields.

He also welcomed the initiatives of Green Saudi Arabia and the Green Middle East launched by Prince Muhammad bin Salman bin Abdulaziz, Crown Prince of Saudi Arabia, which express the leadership role of the Kingdom towards common international issues, including combating the climate change crisis, praising its great impact on the region and its inhabitants.

The Saudi crown prince also welcomed the Pakistani prime minister’s initiative of “a clean and green Pakistan” as well as the successful “Ten Billion Tsunami Trees” initiative.

For his part, the head of the Saudi-Pakistani Business Council, Fahd bin Muhammad Al-Bash, stressed the depth of the strong relations between the Kingdom of Saudi Arabia and the Islamic Republic of Pakistan, which include all levels and are accompanied by economic, investment and commercial mobility in many axes that constitute an added value to the economic components between the two countries.

In statements on the occasion of the visit of Prime Minister Imran Khan in the Islamic Republic of Pakistan, he said, “There are several investments and intra-trade between the two countries that started a long time ago in several fields such as petrochemical industries, agriculture, livestock, minerals, energy, textiles, foodstuffs, education, health, manpower, military and security cooperation.”

Fahd Al-Bash explained that the major economic and investment transformations that the two countries have worked on to facilitate and develop the investment movement and intra-trade between the two countries, coupled with the aspirations of the two leaderships, come in accordance with the Kingdom’s 2030 vision, in order to raise the level of cooperation to its highest levels in all development plans.

He stressed that the economic opportunities are great between the two countries, and are capable of attracting inter-investment, thus providing high added value and unmatched competitiveness in many fields.

For his part, the Chairman of the Council of Saudi Chambers, Ajlan bin Abdulaziz Al-Ajlan, praised the depth of relations between the Kingdom of Saudi Arabia and the Islamic Republic of Pakistan, and the continuous development they are witnessing at all levels.

Al-Ajlan said: “The visit of the Prime Minister of the Islamic Republic of Pakistan, Imran Khan, to the Kingdom, and before that, the visit of Prince Muhammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, to Pakistan in 2019, reflects the strength of political will to strengthen relations between the two countries and reach them. To advanced levels of strategic partnership at all levels, especially the economic. ”

He stressed the existence of promising prospects and opportunities for economic cooperation between the Kingdom and Pakistan in light of Vision 2030, and the programs and initiatives it contains to attract foreign investments, diversify the economy, and strengthen commercial partnerships with international partners.

He also referred to the investment opportunities available in Pakistan, the facilities and incentives it provides to foreign and Saudi investors in particular, and the economic reform plans that it adopts, including the privatization of many economic sectors.





LEAVE A REPLY

Please enter your comment!
Please enter your name here