Islamabad: Foreign Minister Senator Ishaq Dar said on Tuesday that Saudi Arabia’s investment in Pakistan has not only increased the depth of cooperation but also contributed greatly to peace and stability in the region.
Speaking at the Special Investment Facilitation Council (SIFC) forum held here and attended by a Saudi delegation led by Saudi Foreign Minister Prince Faisal bin Farhan Al Saud, the foreign minister said the current government’s aim is to transform Pakistan. A center of economic activity and innovation, creating an attractive environment for global investors, especially from Saudi Arabia.
The visiting group was attended by the Minister of Water and Agriculture of Saudi Arabia, Eng. Abdulrahman Abdulmohsen AlFadley; Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayev; Ibrahim bin Youssef Al-Mubarek, Assistant Minister of Investment; Mohammed Maziad Al-Tuwaijri, Chairman of the Special Committee of Saudi Arabia; and senior officials from the Ministry of Energy and the Saudi Arabian Public Investment Fund.
The foreign minister assured the delegation that Saudi Arabia’s investment in Pakistan will be important not only for investment but also for development and prosperity.
The Foreign Minister stressed that Saudi Arabia’s investment in Pakistan will be done with utmost respect and through institutional mechanisms.
He added that Pakistan and Saudi Arabia have a deep relationship based on deep Islamic heritage and mutual strategic interests and the visit of the Saudi delegation shows the deep and lasting relationship between the two countries.
He said that the tested friendship with Saudi Arabia is an important element of Pakistan’s foreign policy to transform traditional fraternal relations into strategic economic cooperation.
The group was informed that the SIFC platform is designed to streamline operations and ensure quick decision-making and efficient use of investment. The council plays a key role in expanding infrastructure, streamlining the regulatory framework and ensuring a speedy process to attract foreign direct investment to Pakistan.
Foreign Minister Ishaq Dar said Pakistan has huge potential for fertile agriculture, dynamic population, mineral wealth, vibrant IT sector and renewable energy like solar, hydro, and wind.
He said Pakistan’s fertile land has created many opportunities in agricultural technology and food production. According to him, vast water resources give Pakistan an opportunity to become the food basket of the region.
He also stated that the country’s mining sector is characterized by untapped potential, especially in the Tetyan Belt, known for copper, gold and precious minerals.
He said that the relationship between Pakistan and Saudi Arabia will be strengthened through joint efforts and both sides should take advantage of the huge opportunities in the future.
