ISLAMABAD: Interior Minister Mohsin Naqvi said on Saturday that a proposed visit of Saudi Crown Prince Mohammed bin Salman to Pakistan would prove to be a “game changer” in bilateral ties between both countries, adding the entire Pakistani nation was awaiting the high-profile visit.
Naqvi said this during his visit to the Saudi embassy in Islamabad, where he met the Kingdom’s ambassador, Nawaf bin Saeed Al-Malki, according to the Pakistani interior ministry. The two figures discussed matters of mutual interest, including the Crown Prince’s visit, Pakistan-Saudi Arabia relations and bilateral cooperation in various fields.
Pakistan’s Deputy Prime Minister Ishaq Dar this month said a much-awaited visit of Saudi Arabia’s Crown Prince Mohammed bin Salman to Islamabad was “on the cards” and could materialize any time during May. But neither of the two sides has confirmed any dates.
“The historic brotherly friendship of Saudi Arabia and Pakistan is turning into a beneficial economic relationship,” Naqvi was quoted as saying by his ministry.
“The people of Pakistan are looking forward to the visit of the Crown Prince of Saudi Arabia. The visit of the Saudi Crown Prince will prove to be a game changer in relations between the two countries.”
Pakistan and Saudi Arabia have lately been working closely to increase bilateral trade and investment deals, with the Crown Prince last month reaffirming the Kingdom’s commitment to expedite an investment package of $5 billion.
A high-level Saudi business delegation, led by the Kingdom’s Assistant Minister of Investment Ibrahim Al-Mubarak, this month visited Pakistan to explore investment opportunities in various sectors, including mineral, energy, agriculture and petroleum.
“Saudi Arabia has supported Pakistan in every test,” Naqvi said. “The recent visit of Saudi Arabian investors to Pakistan was very successful.”
On the occasion, the Saudi ambassador said the Kingdom attached “great importance” to its relations with Pakistan, according to the Pakistani interior ministry.
Pakistan and Saudi Arabia enjoy strong trade, defense, and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and serves as a top source of remittances to the cash-strapped South Asian country.
Saudi Arabia has also often come to cash-strapped Pakistan’s aid by regularly providing it oil on deferred payment and offering direct financial support to help stabilize its economy and shore up its forex reserves.
Saudi Crown Prince’s visit to Pakistan will prove to be ‘game changer’ in bilateral ties — minister
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Saudi Crown Prince’s visit to Pakistan will prove to be ‘game changer’ in bilateral ties — minister
- Pakistan’s deputy PM this month said the much-awaited visit was ‘on the cards,’ but neither side has confirmed any dates
- The statement came amid Pakistan and Saudi Arabia’s efforts to increase bilateral trade and reach investment agreements
Saudi company eyes multi-sector projects in Pakistan worth $200 million each — ministry
- Delegation from Saudi firm Kyan explores investment in energy, mining, IT and agriculture
- Talks come amid Pakistan’s push to attract Gulf capital and boost foreign investment inflows
ISLAMABAD: A Saudi company is exploring potential multi-sector investment projects in Pakistan with an estimated minimum value of $200 million per scheme, Pakistan’s ministry of information said on Wednesday.
The development comes as Pakistan seeks to attract increased foreign direct investment from Gulf countries, particularly Saudi Arabia, as part of efforts to stabilize its economy, improve investor confidence and expand industrial capacity. Saudi Arabia has in recent years pledged billions of dollars in potential investments across Pakistan’s mining, energy and infrastructure sectors, though several projects remain at exploratory or negotiation stages.
According to the ministry of Information, a delegation from Saudi firm Kyan visited Islamabad and expressed interest in investing in sectors including energy, mining, information technology, agriculture and livestock. The delegation participated in the “Indus AI Week” organized by the Ministry of Information Technology and Telecommunication and held meetings with Federal Minister for Board of Investment Qaiser Ahmed Sheikh.
“The delegation shared proposals for various potential projects with an estimated minimum investment of USD 200 million for each project and also conveyed their interest in bringing additional Saudi investors to Pakistan,” the information ministry said.
Welcoming the delegation, Sheikh highlighted Pakistan’s market size and geographic position.
“With a population of over 250 million, Pakistan represents a large and dynamic market,” the minister said, adding that the country’s location provides access to landlocked Central Asian states, making it an attractive hub for regional trade and investment.
The ministry statement said the Board of Investment offered facilitation through its Business Facilitation Center, which provides a single-window mechanism for investor approvals and coordination. Sheikh also assured the delegation of support in arranging meetings with the business community and visits to Special Economic Zones, where incentives include income tax and import duty exemptions.
The minister referred to recent engagements between Pakistani and Saudi officials and reiterated that both countries could work to unlock new avenues of bilateral investment and economic cooperation, according to the statement.
Saudi Arabia is among Pakistan’s largest sources of worker remittances and has emerged as a key partner in Islamabad’s efforts to secure external financing and long-term investment commitments in recent years.
