The Pakistan-Saudi Arabia Investment Forum was founded by an Asian country seeking significant financial support from the Kingdom to strengthen its struggling economy.
Pakistan has substantial business, investment, and economic potential, according to Saudi Deputy Investment Minister Ibrahim Almubarak during the investment negotiations. He emphasised Riyadh’s confidence in Pakistan’s economic potential by pointing out the country’s advantages in terms of population, location, and natural resources.
According to Almubarak, both parties have a strategic partner that is based on similar beliefs, customs, and values.
He expressed optimism about strengthening the relationship between the two nations and described this conference as a chance to have a deeper grasp of Pakistan’s investment potential.
Muhammad Aurangzeb, Pakistan’s Finance Minister, in the meantime reaffirmed the government’s resolve to assist the private sector with growth driven by exports.
Positive economic indicators were emphasised by him, such as the GDP growth of 5% in agriculture and the stability of the local currency, together with a decline in inflation to about 17%. He said he was confident of cutting the current account deficit to less than $1 billion and that foreign investment in Pakistan’s stock market had surged.
A longer-term, more comprehensive IMF programme with the goals of structural reforms and macroeconomic stability was also covered by Aurangzeb.
In the meantime, Musadik Masood Malik, Minister of Petroleum, emphasised the necessity of cooperation between the business sectors in both nations in order to create value and diversify the economy. In order to promote mutual prosperity, he suggested involvement in infrastructure development and placed special emphasis on collaboration in industries including tourism, agriculture, and mines and minerals.
