ISLAMABAD: Prime Minister Imran Khan will leave for Saudi Arabia on Tuesday for a two-day business conference in Riyadh with an aim to highlight the country’s economic potential and procure investments.
The meeting for the Future Investment Initiative (FII), to be held from October 23 to 25, will look at “projecting Pakistan’s economic and investment potential”, a statement released by the Foreign Office read on Friday.
“The conference provides an opportunity to interact with important business leaders who are interested in investing in Pakistan,” the Foreign Office said, adding that PM Khan will be attending the conference on the special invitation of King Salman and was also expected to share his vision for Pakistan, for the next five years, with the group members.
The conference termed as “Davos in the desert” will host leading businesspersons, investors, corporate giants, representatives of hi-tech industry and major media outlets in one platform.
PM Khan will also call upon King Salman and Crown Prince Mohammed bin Salman to discuss “matters of mutual interest.” “The FII is now an annual feature in Saudi Arabia. The first FII was held last year, with the participation of 3,800 people from 90 countries. This year’s conference is also likely to attract a large number leading figures,” the statement read.
The Prime Minister’s participation in the conference “signifies our solidarity with the Kingdom in its efforts to become an emerging hub for international business and investment.”
Earlier, Pakistan’s ruling party’s head of public relations, Azhar Laghari, also confirmed to Arab News that the PM would be visiting Saudi Arabia from Monday. “Good things will come up (during the visit)… and a lot of things will get materialized,” he had said at the time.
This is PM Khan’s second visit to the Kingdom in less than a month, after he toured the country during his first foreign trip on September 18, after assuming office in August this year.
Dr. Athar Ahmed, a renowned economist, said that the prime minister could use the conference as a platform to highlight investment opportunities in Pakistan and offer incentives to leading business companies and investors.
“The FII is going to be one of the world’s biggest business conferences and Pakistan should utilize the platform to attract foreign direct investment,” he told Arab News.
Ahmed suggested that the Pakistani delegation should seek investment, trade and economic cooperation from the Gulf countries to overcome its looming economic crisis instead of a proposed bailout package by the International Monetary Fund.