Saudi Arabia has increased its investment in Pakistan, bringing the total to $2.8 billion, with a recent addition of $600 million.
This was disclosed by Saudi Investment Minister Sheikh Khalid Bin Abdul Aziz Al Faleh in Riyadh, in the presence of Prime Minister Shehbaz Sharif and Mohammad Bin Mazyad Al-Tuwaijri, Advisor at the Saudi Royal Court.
Minister Al-Faleh announced that the number of memoranda of understanding (MoUs) between the two nations has risen to 34, signifying a deepening of economic ties.
“The value of these agreements has also escalated to $2.8 billion,” he added, highlighting the substantial increase in commitments.
This announcement follows a series of meetings and an earlier visit in October 2024 by a Saudi delegation to Pakistan, during which 27 MoUs and agreements amounting to $2.2 billion were signed. Al-Faleh noted that five of these investment projects have already commenced, focusing on key sectors such as healthcare and energy.
Moreover, Saudi investors have taken significant steps by acquiring land and assets to establish an integrated medical complex in Pakistan, which marks a significant development in the healthcare sector.
Prime Minister Sharif, during his two-day visit to Saudi Arabia for the 8th edition of the Future Investment Initiative, reviewed the ongoing economic initiatives with Saudi officials. He highlighted that the B2B MoUs signed during the Saudi minister’s recent visit to Pakistan are transforming into tangible investments and commercial ventures.
Sharif urged continued collaboration to harness the vast economic opportunities available under Saudi Arabia’s Vision 2030, emphasizing the potential benefits for both countries through strengthened economic partnerships.
