Pakistan, Saudi Arab ink investment deal up to $20bn
ISLAMABAD: Saudi Arabia and Pakistan signed a raft of investment deals Sunday worth up to $20 billion during the first-ever visit of Saudi Crown Prince Mohammad bin Salman (MBS) to Pakistan.
Seven agreements and Memorandums of Understanding (MoUs) were inked as Saudi crown prince Mohammed bin Salman launched his diplomatic trip to Asia in Islamabad, with Pakistan hoping the deals will provide welcome relief to its teetering economy.
The signing ceremony was held at the Prime Minister House in Islamabad tonight.
The sectors include cooperation in production of electricity, establishment of refinery petrochemical plant, promotion of sports and technical assistance in standardization sector.
Saudi Crown Prince Muhammad Bin Salman, Prime Minister of Pakistan Imran Khan, ministers of both countries and delegations also attended the ceremony.
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