Prominent Saudi conglomerate considers Pakistan for business expansion after talks with investment body

ISLAMABAD: A prominent Saudi conglomerate with diverse business interests expressed investment interest in Pakistan after its delegation visited the country where it met the officials of the Special Investment Facilitation Council (SIFC) on Wednesday.
A hybrid government body established last year to attract foreign investment in Pakistan’s key economic sectors, the SIFC promises to create an enabling business environment in the country and offer a one-window solution to investors.
Since its inception, it has been seeking investment in sectors like energy, mines and minerals, information technology, agriculture and livestock, and industry and tourism.
The council has specifically paid attention to the Gulf countries where its economic interests remain deeply entrenched.
“A high-level delegation of Saudi Arabia’s Al-Ajlan Holding Group visited the Special Investment Facilitation Council on March 6,” said an official statement circulated by the SIFC.
“The delegation expressed keen interest in exploring investment opportunities under SIFC in different sectors,” it added.
The Saudi conglomerate’s interests span various sectors, including real estate, fashion, retail and investment.
Al-Ajlan Holding Group has also made investments abroad, which aligns with its strategy to diversify its investment portfolio and establish a global presence in key markets around the world.
Pakistan has been actively seeking foreign investment as part of its strategy to stimulate economic growth, create jobs and enhance its technological and industrial capabilities.
Foreign investment is seen as crucial for bringing in capital at a time when the country has been seeking financial bailouts from international lending agencies.