Pakistan and Saudi Arabia to Sign 30 Investment Agreements

The federal government will sign around 30 investment agreements with the Saudi delegation which will start its visit to Pakistan today, Commerce Ministry sources told ProPakistani. These agreements will cover sectors such as agriculture, information technology, construction materials, petroleum, and power. The delegation will also discuss food security, meat exports, and Pakistani rice exports. Sources said existing contracts related to mining, oil refineries, and railways will be reviewed with Saudi stakeholders. The framework for these investment agreements has already been finalized. Saudi Arabia is expected to invest over $5 billion in Pakistan by 2027, with an initial investment agreement of $2 billion as reported by ProPakistani on Tuesday. This will include a $1 billion contribution from the Saudi private sector in the first phase. Saudi businesses are also planning to appoint local representatives in Pakistan to enhance the investment volume. Other sessions, including a meeting between Pakistani officials and the Saudi Fund for Development, have also been scheduled to review regulatory approvals and the progress of necessary NOCs, sources added.