Minister of State/Chairman Board of Investment Muhammad Azfar Ahsan apprised the Saudi Arabia’s Ambassador Nawaf bin Said Al-Malki on an upcoming investors’ meet-up being organised by BOI. He requested the ambassador for participation from the Saudi side. Malki warmly accepted the invitation and assured of maximum assistance from his side. He also mentioned that a group of Saudi investors will soon visit the Board of Investment to formally discuss project proposals and to take this meeting to the next level.

Both sides shed light on the cordial relations between the two countries and deliberated on ways to further enhance and promote bilateral relations. Chairman BOI briefed the ambassador about the lucrative investment opportunities available in Pakistan with special mention of incentivized priority sectors.

He stressed that Board of Investment under the leadership of Prime Minister Imran Khan is committed to facilitate and encourage investment in the country.

Ahsan expounded that Pakistan has ample untapped opportunities waiting to be explored in various sectors of the economy. He added that Pak-Saudi relations are moving in an upward trajectory and Pakistan is really looking forward to facilitate Saudi investors in the country.

Malki agreed with the chairman about Pakistan’s massive investment potential. Highlighting the recent positive developments in Pak-Saudi bilateral relations, the ambassador stated that he was confident about substantial economic cooperation between KSA and Pakistan in coming future.

The ambassador underscored that there is room for collaboration between the two countries in areas of trade and investment. He shared that Saudi investors are taking keen interest in investing in several sectors of Pakistan including energy & petroleum, technology, infrastructure etc.

Meanwhile, in other development, Federal Minister for Finance and Revenue Shaukat Tarin held a meeting with Azfar Ahsan, Chairman BOI, and Ameer Khuram Rathore, Ambassador of Pakistan to Kingdom of Saudi Arabia.

The members shared their insights about the avenues for investment opportunities for Saudi investors in Pakistan. Both ambassador of Pakistan to Saudi Arabia and chairman BOI shared that Saudi government as well as investors are keenly interested for investment in Pakistan. There exists huge business potential for investment between both countries at government-to-government, government-to-business and business-to-business levels.

Saudi business community is avidly looking toward Pakistan for business. The investment avenues are being offered in various sectors of the economy. These avenues majorly include refinery, agriculture, IT sector and semi-conductor manufacturing sectors.

The finance minister also advised BOI to enhance focus on project development in consultation with respective ministries and the provincial government. He also urged to finalize discussion with prospective investors in Saudi Arabia. He appreciated the efforts being made by Pakistan’s Embassy in Saudi Arabia for playing as the government’s interface. He also assured complete support of Ministry of Finance to BOI and the Embassy for their internal capacity building efforts.