AGAINST the backdrop of frequent diplomatic exchanges including Prime Minister Shehbaz Sharif’s constructive dialogue with Saudi Crown Prince Mohammad Bin Salman, the conduct of Pak-Saudi investment conference in Islamabad stands as a tangible manifestation of the desire on both the sides to foster a robust partnership which, in fact, will serve the interests of both the countries.
At the heart of investment moot were the remarks made by Saudi Arabia’s Deputy Investment Minister, Ibrahim Almubarak, underscoring the Kingdom’s keen interest in Pakistan’s economic potential. Almubarak’s acknowledgment of Pakistan as a major strategic partner reflects a deep-rooted belief in the country’s demographic dividend, strategic location and abundant natural resources. Such sentiments affirm a shared vision of bilateral cooperation that extends beyond mere economic transactions to a broader strategic partnership. The conference highlighted several sectors ripe for collaboration and joint ventures between Pakistan and Saudi Arabia, with the Petroleum Minister, Musadik Malik, emphasizing infrastructure development as pivotal for unlocking mutual wealth. Moreover, sectors such as mines and minerals, tourism, agriculture and IT offer untapped potential for mutually beneficial partnerships as echoed by Commerce Minister Jam Kamal. Crucially, efforts of SIFC deserve commendation for its role in facilitating investment and addressing concerns, particularly for Saudi investors. This interaction between Pakistan and Saudi Arabia holds the promise of materializing investment projects and exploring new avenues of cooperation. The envisioned collaboration also has the potential to attract investment from other GCC countries. Such inflows of capital will bolster industries, agriculture, IT, mines and minerals, and other sectors crucial for Pakistan’s economic development. As Pakistan and Saudi Arabia continue to engage in constructive dialogue and pursue joint ventures, we have no doubt in saying that the trajectory of their economic partnership is poised for further growth and prosperity. It is imperative for both countries to sustain this momentum, leveraging their respective strengths for mutual benefit and regional stability.
