ISLAMABAD: Pakistan’s Planning Minister Ahsan Iqbal this week stressed the importance of increasing the synergy between the URAAN Pakistan and Vision 2030 national development plans, noting that both frameworks offer lucrative opportunities for economic cooperation, human resource development and greater engagement between the private sector.

Pakistan’s Prime Minister Shehbaz Sharif launched URAAN Pakistan, a five-year national economic transformation plan for 2024–2029, in December 2024. Pakistan says the plan is a transformative initiative designed to advance crucial projects and reforms that aim to rejuvenate the country’s economy, promote sustainable development, and drive inclusive growth.

The Vision 2030 national development plan, meanwhile, is a comprehensive framework to position Saudi Arabia as a powerhouse of business, tourism and non-oil activities both regionally and globally. It was launched by the Saudi government in 2016.

Iqbal met Saudi Arabia’s new Ambassador Dr. Rajeh Tami Albugamy in Islamabad on Thursday, with both sides discussing ways to further strengthen cooperation between Islamabad and Riyadh in economic development, investment, education, technology and human resource development areas.

“The federal minister underscored the importance of expanding synergies between URAAN Pakistan and Saudi Vision 2030, noting that both national development frameworks offer significant opportunities for economic cooperation, human resource development and greater private-sector engagement,” Pakistan’s planning ministry said on Thursday.

Both sides agreed to deepen cooperation in development planning and explore new avenues of collaboration, the ministry said.

Albugamy emphasized the importance of strategic alignment, comprehensive planning and sustained institutional engagement to further elevate bilateral relations between Pakistan and Saudi Arabia, the planning ministry said.

“The ambassador also highlighted opportunities to enhance cooperation in investment, private sector development, economic affairs and tourism, expressing confidence in further strengthening the partnership between the two brotherly countries,” it added.

Pakistan and Saudi Arabia enjoy fraternal ties that go back decades and are rooted in shared culture, faith and values. Pakistan regards Saudi Arabia as a key regional ally that has supported its economy over the years through financial assistance and investment. The two nations have sought to foster stronger investment, trade and economic relations in recent times, as the Middle East remains gripped in turmoil.

Pakistan and Saudi Arabia agreed to an economic cooperation framework in October 2025 during Prime Minister Shehbaz Sharif’s visit to Riyadh, with the goal to strengthen trade and investment ties. In 2024, Pakistani and Saudi businesses signed 34 memoranda of understanding worth $2.8 billion across multiple sectors to strengthen trade and business relations.