In a positive development, Saudi Arabia on Wednesday announced adding another $600 million to its recently pledged $2.2 billion investment in Pakistan, with Saudi Investment Minister Khalid bin Abdulaziz Al Falih calling it “only the beginning of something very special”.
The development came during a meeting between Prime Minister Shehbaz Sharif and the Saudi minister held on the sidelines of 8th edition of the Future Investment Initiative (FII) in Riyadh.
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The “very productive” meeting encompassed bilateral cooperation in multiple sectors including trade, finance, agriculture, technology and skilled manpower, according to a joint press stakeout.
At the invitation of Saudi Crown Prince Mohammed bin Salman, the prime minister is currently on a two-day official visit to Saudi Arabia where he addressed the FII moot on ‘Infinite Horizons: Investing Today, Shaping Tomorrow.’ and joined the global leaders to discuss how investment could serve as a catalyst for a prosperous and sustainable future.
Accompanied by Adviser at the Royal Court Mohammad Maziad Al-Tuwaijri, Saudi Minister Al Falih told the media that during his recent visit to Pakistan, both sides had signed 27 memorandums of understanding (MoUs) for investment worth $2.2 in Pakistan.
