Saudi Arabia has announced an additional $600 million investment in Pakistan, raising the total investment to $2.8 billion. This development follows a productive meeting between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman, where the number of memoranda of understanding (MoUs) increased from 27 to 34.
The announcement was made by Saudi Investment Minister Khalid bin Abdulaziz Al Falih during a joint press briefing with PM Shehbaz. The leaders discussed bilateral cooperation across various sectors, including trade, finance, agriculture, technology, and skilled labor.
Also Read: PM Shehbaz Sharif Pledges to Eliminate Polio in Pakistan
During his two-day official visit, PM Shehbaz addressed the 8th Future Investment Initiative in Riyadh, emphasizing the role of investment in driving sustainable growth. Al Falih described this increased investment as “only the beginning of something very special.”
PM Shehbaz expressed optimism regarding ongoing projects and future collaborations, stating, “When I come back, I will have good news for the people of Pakistan and Saudi Arabia.” He highlighted the significance of this partnership for the broader Muslim community.
Al Falih confirmed that some MoUs have already led to agricultural exports from Pakistan and indicated Saudi Arabia’s interest in importing skilled workers to enhance its digital technology and artificial intelligence sectors.
In related news, Pakistan and Saudi Arabia formalized 30 MoUs aimed at facilitating the employment of skilled Pakistani workers across various sectors in Saudi Arabia. These agreements were signed in Riyadh by Federal Minister for Overseas Pakistanis and Human Resource Development, Chaudhry Salik Hussain, along with Tevta Chairman Brigadier Retired Sajid Khokhar and officials from the Special Investment Facilitation Council.
The Pakistani government is mobilizing public and private vocational training centers to ensure that workers are adequately trained to meet the specific needs of the Saudi labor market. This initiative reflects the government’s commitment to capitalize on opportunities for Pakistani workers in Saudi Arabia and other Gulf countries.
