The Pakistan-Saudi Arabia Investment Forum 2024 began with a strong sense of optimism and cooperation, as top officials from both countries outlined their commitment to deepening economic relations and exploring new investment opportunities.
In his opening speech, Saudi Deputy Minister of Investment Ibrahim bin Yusuf al-Mubarak praised the contributions of Pakistani nationals to Saudi Arabia’s development. He also emphasized that Saudi Arabia sees Pakistan as a favorable destination for investment, expressing the Kingdom’s support for a robust Pakistani economy.
Al-Mubarak noted that major Saudi companies are eager to play a role in Pakistan’s development, suggesting that the forum will create more investment opportunities in the country. He stressed the importance of advancing public-private partnerships to a new level.
Similarly, Federal Finance Minister Muhammad Aurangzeb highlighted Pakistan’s economic stability over the past 10 months, attributing it to sound economic policies. He mentioned the stabilization of the local currency and the gradual increase in foreign exchange reserves, adding that measures are being taken to address the energy crisis.
Aurangzeb stressed the importance of continuity in policies for sustained economic growth and mentioned ongoing efforts to promote foreign investment. He also underscored the critical role of the private sector in driving the economy, indicating that government officials and bureaucrats should play a supporting role.
Federal Minister of Petroleum Dr. Musadik Malik called for stronger collaboration between Pakistan and Saudi Arabia to drive mutual progress. He commended Saudi Arabia’s rapid development and emphasized the need to strengthen bilateral relations between the two countries. “We need to move forward together,” he said.
Commerce Minister Jam Kamal reinforced Pakistan’s commitment to facilitating investment and creating a conducive environment for investors. He pointed to the Special Investment Facilitation Council (SIFC) as an initiative designed to provide comprehensive support to the private sector and ensure successful negotiations between Pakistan and Saudi Arabia.
SIFC National Coordinator Lt. Gen. Sarfaraz Ahmed highlighted the deep-rooted trust and friendship between Pakistan and Saudi Arabia. He praised the significant Pakistani workforce contributing to Saudi Arabia’s development and noted Pakistan’s strategic location as a gateway to Central Asia and beyond.
The Investment Forum, with speeches from key officials and dignitaries, underscored the shared commitment of Pakistan and Saudi Arabia to enhance bilateral cooperation, foster investment, and unlock the potential for mutual growth. As discussions progress, both countries look forward to translating their shared vision into concrete initiatives that will benefit their economies and strengthen their long-standing fraternal ties.
