Saudi’s investment in Pakistan significant for economy growth: Razak Dawood

ISLAMABAD: Adviser to Prime Minister on Commerce Abdul Razak Dawood on Monday said a new chapter has begun in bilateral relations of Pakistan and Saudi Arabia.

Addressing the Pak-Saudi Business Conference in Islamabad, the adviser to the premier said, “Saudi investment in Pakistan is highly significant for positive trajectory of the country’s growth and economy.”

Stating that “Saudi Arabia is a partner of Pakistan in its journey of prosperity”, Razak Dawood said, “Investment in mining and mineral development from Saudi investors will be highly appreciated.”

For the last few years, we have been moving in the direction of improving power shortages and infrastructure. Chinese government has helped us in this work, he said. “Our relationship with Saudi Arabia is escalating in a different direction and at a different level. The Saudi announcement of huge investment in various sectors of Pakistan will improve our economy,” he added.

Razak Dawood vowed, “Saudi investors and businesses will be provided all out facilities in their ventures.”

Saudi Minster for Commerce Majid Al-Qassabi also spoke on the occasion and said, “Pak-Saudi relations are moving in a new and positive direction.”

“The Saudi crown prince has expressed desire to turn the bilateral relations with Pakistan into a strategic partnership. MbS has also asked to give assurances that Pakistan and Saudi Arabia are partners in development,” the Saudi minister for commerce added.

“Our bilateral trade volume stands at $3.7 billion dollars with an increase in the last 15 years; however, this still needs improvement,” Majid Al-Qassa said.

Upholding that “we need to market things right and attract investors from both sides”, the Saudi minister for commerce stated, “For this we will frankly discuss the opportunities and challenges to reach fruitful outcomes.”

 

About The Author