ISLAMABAD: Pakistan’s minister of state and Chairman Board of Investment (BOI) met the Saudi investment minister in Tashkent, Uzbekistan, on Thursday and discussed ways to enhance investment collaboration in multiple sectors.
Pakistan and Saudi officials are attending the Tashkent International Investment Forum in Uzbekistan that began on Thursday. The platform aims to bring together foreign investment leaders, leading financial and economic organizations interested in the developing market of Uzbekistan.
Pakistan’s BOI Chairman Muhammad Azfar Ahsan had a detailed meeting with Saudi Minister for Investment Khalid Al-Falih that was also attended by the CEO of National Companies Promotion Program (NCPP) Badr Al Badr, Chairman ACWA Power Mohammad Abunayyan and Saudi Ambassador in Uzbekistan.
“They underscored the need for increased collaboration and investment in various sectors including agriculture, food processing, mining, renewable energy, refinery, petrochemicals, Information Technology, etc. and vowed to strengthen business and economic ties,” a statement from the Pakistani information ministry read.
Both sides also discussed developing a long-term strategy to create an atmosphere of investment facilitation.
“The Saudi Investment Minister expressed the need for greater mutual investments in different fields and proposed to create a joint team between BOI and National Companies Promotion Program (NCPP) to finalize investment projects in Pakistan,” the statement read.
BOI Chairman Ahsan briefed the Saudi investor in detail about the investment regime of Pakistan and special incentives offered to investors in Special Economic Zones (SEZs).
The statement said the Saudi minister invited the BOI team to visit Saudi Arabia along with relevant stakeholders to market investment projects from the public and private sectors.
Pakistan has deep-rooted ties with Saudi Arabia and nearly 2.5 million Pakistani expats live in the kingdom.
In 2019, during Crown Prince Mohammed bin Salman’s visit to Pakistan, seven memorandums of understanding and agreements worth $20 billion were signed between the two countries.
