Friday, May 17, 2024

Saudi Investors Expect to Invest $10 Billion in Pakistan

A significant boost awaits Pakistan’s economy as Saudi investors and traders prepare to infuse $10 billion into the country. This promising development comes as a delegation of about 30 companies from Saudi Arabia is set to arrive today (Sunday), aiming to create new job opportunities.

Federal Minister for Petroleum, Musadik Malik, expressed confidence in this investment, highlighting its significance in kickstarting Pakistan’s developmental journey. He stressed the Prime Minister’s vision for greater involvement of the private sector in driving the country’s progress.

This investment pledge follows Planning Minister Ahsan Iqbal’s recent announcement at a Business Summit in Islamabad, where he hinted at Saudi Arabia’s potential $5 billion investment. Iqbal underlined the importance of boosting exports and attracting investments to meet Pakistan’s financial requirements, underscoring the need for political stability to attract such investments.

Moreover, Iqbal painted a bright picture of Pakistan’s economic prospects, envisioning a $2 trillion economy by 2047 through sustained growth. He called for collective efforts towards achieving this ambitious goal and mentioned ongoing discussions concerning the China-Pakistan Economic Corridor (CPEC) as well as investment negotiations with UAE, Kuwait, and Qatar.

This influx of Saudi investment is poised to fuel Pakistan’s economic growth and pave the way for a brighter future, aligning with the government’s efforts to attract foreign investment and promote economic stability and prosperity.

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