ISLAMABAD: With an eye on strengthening its economy and to overcome the current account deficit, Pakistan’s government said on Monday that it would invite firms from Saudi Arabia, United Arab Emirates and Oman to invest in the prestigious China-Pakistan Economic Corridor (CPEC), a multi-billion dollar project.
Labeled as a “game-changer” for the country, China’s $60 billion investment is expected to develop Pakistan’s infrastructure and overcome energy shortage with the help of new projects under the Belt and Road Initiative (BRI).
“Both Pakistan and China have mutually decided to include a third party in the CPEC projects. And we will definitely seek investment from our friendly Arab countries in the industrial and energy-related projects,” Hasan Daud, Deputy Project Director CPEC, told Arab News.
He said that the initiative was discussed at length during Chinese Foreign Minister Wang Yi’s recent visit to Islamabad. “This is a mutual decision and a framework for it is being worked out,” he said.
At the meeting, both Yi and Foreign Minister Shah Mehmood Qureshi agreed to offer GCC investors the same incentives as would be extended to firms from Pakistan and China. “It is a golden opportunity for our friendly countries especially Saudi Arabia, UAE, Oman and Bahrain to invest in the CPEC projects,” Daud said, adding that they were seeking investment particularly in the “export-led industry to overcome the current account deficit”.
Rebuffing reports of a renegotiation with China on CPEC as “propaganda by detractors”, Daud said the priority was now to work toward developing the social sector, Gwadar port, special economic zones and Pakistan Railways’ main line-1.
Dr. Ashfaque Hassan Khan, member of the government’s Economic Advisory Council, said that a “third-country” was being included to dispel the misconception that “there is no transparency in the CPEC projects.” “Investment from other countries will also help broaden the base of the projects and counter allegations of corruption and fraud in the investment,” Khan told Arab News.
He added that the move would further help share dividends of the BRI and ensure regional peace and development through infrastructure and social sector development. “This is a wise strategy and that’s why both Pakistan and China have agreed to it,” Khan said.
Political analysts, however, were quick to add a caveat.
Reasoning that the move was aimed at countering criticism of the BRI, Professor Tahir Malik — an academic and a political analyst — said that the initiative would help China increase its influence in the region, particularly Pakistan, as Islamabad would not be able to repay the money invested in the country by Beijing.
Malik said that China has been under increasing pressure from the United States and other western countries for its “debt trap diplomacy” in the region and the inclusion of a ‘third-country’ was aimed at increasing its ownership of the CPEC projects. “It will be a big achievement for both Pakistan and China if they succeed in getting a tangible investment in the CPEC-led projects from another country in the given international circumstances,” he told Arab News.
Pakistan to rope in GCC investors for CPEC
Pakistan to rope in GCC investors for CPEC
- Chalks out plan with China to overcome current account deficit
- To offer Arab investors the same incentives as are being extended to Chinese companies
First EU–Saudi roundtable on critical raw materials reflects shared policy commitment
RIYADH: The EU–Saudi Arabia Business and Investment Dialogue on Advancing Critical Raw Materials Value Chains, held in Riyadh as part of the Future Minerals Forum, brought together senior policymakers, industry leaders, and investors to advance strategic cooperation across critical raw materials value chains.
Organized under a Team Europe approach by the EU–GCC Cooperation on Green Transition Project, in coordination with the EU Delegation to Saudi Arabia, the European Chamber of Commerce in the Kingdom and in close cooperation with FMF, the dialogue provided a high-level platform to explore European actions under the EU Critical Raw Materials Act and ResourceEU alongside the Kingdom’s aspirations for minerals, industrial, and investment priorities.
This is in line with Saudi Vision 2030 and broader regional ambitions across the GCC, MENA, and Africa.
ResourceEU is the EU’s new strategic action plan, launched in late 2025, to secure a reliable supply of critical raw materials like lithium, rare earths, and cobalt, reducing dependency on single suppliers, such as China, by boosting domestic extraction, processing, recycling, stockpiling, and strategic partnerships with resource-rich nations.
The first ever EU–Saudi roundtable on critical raw materials was opened by the bloc’s Ambassador to the Kingdom, Christophe Farnaud, together with Saudi Deputy Minister for Mining Development Turki Al-Babtain, turning policy alignment into concrete cooperation.
Farnaud underlined the central role of international cooperation in the implementation of the EU’s critical raw materials policy framework.
“As the European Union advances the implementation of its Critical Raw Materials policy, international cooperation is indispensable to building secure, diversified, and sustainable value chains. Saudi Arabia is a key partner in this effort. This dialogue reflects our shared commitment to translate policy alignment into concrete business and investment cooperation that supports the green and digital transitions,” said the ambassador.
Discussions focused on strengthening resilient, diversified, and responsible CRM supply chains that are essential to the green and digital transitions.
Participants explored concrete opportunities for EU–Saudi cooperation across the full value chain, including exploration, mining, and processing and refining, as well as recycling, downstream manufacturing, and the mobilization of private investment and sustainable finance, underpinned by high environmental, social, and governance standards.
From the Saudi side, the dialogue was framed as a key contribution to the Kingdom’s industrial transformation and long-term economic diversification agenda under Vision 2030, with a strong focus on responsible resource development and global market integration.
“Developing globally competitive mineral hubs and sustainable value chains is a central pillar of Saudi Vision 2030 and the Kingdom’s industrial transformation. Our engagement with the European Union through this dialogue to strengthen upstream and downstream integration, attract high-quality investment, and advance responsible mining and processing. Enhanced cooperation with the EU, capitalizing on the demand dynamics of the EU Critical Raw Materials Act, will be key to delivering long-term value for both sides,” said Al-Babtain.
Valere Moutarlier, deputy director-general for European industry decarbonization, and directorate-general for the internal market, industry, entrepreneurship and SMEs at European Commission, said the EU Critical Raw Materials Act and ResourceEU provided a clear framework to strengthen Europe’s resilience while deepening its cooperation with international partners.
“Cooperation with Saudi Arabia is essential to advancing secure, sustainable, and diversified critical raw materials value chains. Dialogues such as this play a key role in translating policy ambitions into concrete industrial and investment cooperation,” she added.
