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Saudi delegation visits Pakistan, possibility of 5 billion dollar investment

Web Desk: A high-level delegation of Saudi investors and economic experts headed by Saudi Foreign Minister Faisal bin Farhan Al-Saud will visit Pakistan on April 17. There is a possibility of $5 billion investment.
The Saudi delegation will hold meetings to determine the roadmap for investment of five billion dollars in mining and tourism sectors, including expansion of Recodek, Dia Mir Basha Dam, small oil refineries.
After two weeks in May, the Crown Prince of Saudi Arabia, Mohammed bin Salman, is also expected to visit Pakistan, during which agreements will be finalized and Saudi investments in Pakistan will begin.
The government’s efforts to improve the economic situation of Pakistan began to bear fruit. During the recent visit of Pakistan Prime Minister Mian Shahbaz Sharif to Saudi Arabia, he met with Mohammed bin Salman in which discussions were held to promote capital between the two countries.
The meeting was a follow-up to the efforts of the Facilitation Council formed under Prime Minister Shehbaz Sharif’s investment promotion, which has now progressed, and this high-level delegation of Saudi Arabia for investment of five billion dollars. Apart from Arab Foreign Minister, Saudi Minister of Investment Khalid Al-Fasil Khalid, Minister of Industry, Minister of Energy and other ministers, investors and economic experts will join Pakistan.
The delegation discussed with the Pakistani counterparts the Mir Bhasha Dam project, the mining project in Chiniot, the plans to create two tourism zones in Khyber Pakhtunkhwa, the purchase of one billion dollar shares of Recodek, the expansion of small oil refineries projects for oil refining, and He will negotiate and agree on two mining lease projects in Khyber Pakhtunkhwa.
After the Saudi delegation completes the initial work of agreements regarding projects and investments in Pakistan, two weeks later, in the first or second week of May, Mohammed bin Salman is also expected to arrive in Pakistan. Saudi investment will be started in Pakistan after taking shape, which will lead to vast achievements in the economic field for Pakistan.

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– 2024-04-15 22:59:46

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