ISLAMABAD – Saudi delegation led by Investment Minister Khalid Bin Abdul Aziz Al Falih called on Pakistan Prime Minister Shehbaz Sharif, today in Islamabad, and pledged to expand investment in mining, agriculture, and infrastructure.

The premier invited H.E Mr Falih to invest in the aviation sector, especially in the outsourcing of international airports in Pakistan. PM said Pakistan-Saudi Arabia ties are based on deep ties and were becoming stronger with each passing day.

PM Sharif emphasized the potential for greater collaboration in various sectors of mutual interest. He also expressed his appreciation for the leadership of King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman in fostering bilateral ties.

The key talks at the Pakistan-Saudi Business Forum comes also on table and PM noticed that dialogue between the two countries’ business communities has paved the way for new investments, reinforcing Saudi Arabia’s commitment to enhancing economic cooperation. He recalled his recent visits to Saudi Arabia and the meetings held with the Crown Prince, marking this visit as the third high-level Saudi delegation to Pakistan in just six months.

He also highlighted the successful signing of multiple Memorandums of Understanding (MoUs) earlier this year, demonstrating the deepening partnership. The Prime Minister pointed to the achievements of the Special Investment Facilitation Council (SIFC) in attracting foreign investment to Pakistan.

Reaffirming Pakistan’s commitment to Saudi Arabia’s sovereignty, he expressed readiness to strengthen defense ties, particularly in support of Saudi Arabia’s Vision 2030 initiative aimed at developing indigenous defense capabilities.

Furthermore, the Prime Minister acknowledged Saudi Arabia’s leadership within the Organization of Islamic Cooperation (OIC) on critical issues such as Palestine and Kashmir, while also emphasizing the important role of the Pakistani diaspora in economic development.

Minister Al-Falih reiterated Saudi Arabia’s commitment to expanding its investment portfolio in Pakistan, especially in mining, agriculture, food security, and infrastructure, stating that the signing of 27 MoUs today marks the beginning of a fruitful journey ahead.

Saudi minister, COAS discuss initiatives for bilateral cooperation

Federal Minister for Investment, Privatization and Communications, Abdul Aleem Khan, said here on Thursday that the institutional and policy reforms introduced by the incumbent government would further encourage more Saudi investor to invest in Pakistan.

“I am confident that with institutional and policy reforms, we have introduced, more Saudi investors will be encouraged to invest in Pakistan,” the federal minister said while addressing Pakistan-Saudi Arabia Business Forum.

He said, the business forum provides unique opportunity to build deeper commercial ties between the two brotherly countries and invited Saudi Businessmen to explore wide rage investment opportunities Pakistan has to offer.

He said, the government was fully committed to support and facilitate foreign investors in every sector, adding Pakistan and Saudi Arabia would further strengthen cooperation to promote mutual growth and prosperity.

He appreciated, the ongoing sessions of the forum, exchanges of visits and Saudi Arabia’s commitment towards strengthening economic engagements within Pakistan. He also thanked the leadership of Saudi Arabia for extending valuable support and assistance to Pakistan.

The minister expressed the hope that government and private sector delegates would have the opportunity to take forward some of these discussions held during this visit and congratulated teams of both sides for B2B Memorandum of Understandings (MoUs) and agreements they would be signing during this forum.

Meanwhile, Head of International Finance Cooperation (IFC) Saudi Arabia, Waleed Al Murshad and Head IFC Pakistan and Afghanistan, Zeeshan Sheikh gave detailed presentation on IFC, the global multilateral financial institution focused on entirely investment in private sector. On average it invests $55 billion across developing countries and had invested $2 billion in Pakistan last year.

Exim bank Saudi Arabia representative, Thamer A. Alshethri also gave presentation on the operations of the bank, which provides credit solutions to help private sector.—APP

National Bank of Pakistan has signed a MoU with Huawei Technologies Pakistan (PVT) to develop a state-of-the-art National Cloud Data Center. The MoU was formalized during the Huawei Connect 2024 Global Conference.

This collaboration aims to strengthen NBP’s digital infrastructure by deploying cutting-edge cloud services in a Tier-3 certified data center. Huawei will provide dedicated teams to ensure timely implementation, ongoing operations and maintenance support. Additionally, NBP representatives will receive hands-on training and documentation to ensure smooth project integration.

Mr. Amin Manji, Chief Information Technology Group (ITG), NBP and Mr. Ethan Sun, CEO, Huawei Technologies Pakistan (PVT) signed the MoU. Mr. Rehmat Ali Hasnie, President, NBP and Mr. Riaz Hussain, Group Chief, IFRG, accompanied by Mr. David Wang, Executive Director of the Board, Chairman of ICT Infrastructure Managing Board, Huawei Technologies, Mr. Derek Hao, President, Enterprise Business Group (EBG), Huawei ME&CA and Mr. Ethan Sun, CEO, Huawei Technologies Pakistan graced the occasion.

Speaking at the event, Mr. Rehmat Ali Hasnie, President NBP, said, “This partnership is a testament to our commitment to adopting advanced technologies that enhance our operational efficiency.”