Pakistan urged to make the most of Saudi investment package

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ISLAMABAD: SAARC Chamber of Commerce and Industry on Monday termed Saudi Arabia’s investment packages to Pakistan “a great opportunity for the latter to uplift its economy”, and urged the Saudi investors and businessmen for invest generously in different sectors, as the country was fast becoming a safe haven for foreign investment.

In a business-to-business meeting with Saudi investors, SAARC CCI Senior Vice President Iftikhar Malik said the Saudi investment in Pakistan would enhance opportunities for the merchants of both sides, which would subsequently boost bilateral trade between the two countries.

He also acknowledged the steady support extended by Saudi Arabia to Pakistan in difficult these times and said that there was an urgent need to strengthen the bilateral relations on the trade front too.

The SVP said there existed a great potential of foreign investment in Pakistan and owing to the government’s investors friendly policies, investments were pouring into the country.

He said Pakistan was a cheaper country with regard to human resources and labour and Saudi Arabia could benefit ideally from this.

He said there was dire need of exchanging trade delegations between both the two countries, adding that both governments should announce free business visas for the business communities.

Malik suggested that Saudi Arabia also announce a special incentive package for those Pakistani investors and businessmen who were willing to invest in the kingdom.

He said the leadership of Prime Minister Imran Khan and his commitment to ensuring transparency in Pakistan were the reasons behind foreign investment in the country.

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