Adviser on Commerce, Textile, Industries and Production and Investment, Abdul Razak Dawood invited the Saudi business and investment delegation to take advantage of the liberal invest regime of the country and opportunities available for the Kingdom of Saudi Arabia (KSA).
The Minister welcomed the Saudi Arab’s delegation led by Adviser to Saudi Minister for Energy Ahmed Hamed Al-Ghamdi, during the meeting held this morning, said a statement issued by Ministry of Commerce here Monday.
The Saudi delegation comprised of high level officials of various government departments as well as representatives of Saudi Aramco, Maaden and ACWA power.
The Saudi team will hold technical discussions with their Pakistani counterparts with the view to finalize the investments in mega projects in Pakistan.
The Federal Minister appraised the delegation on the huge potential of investment lying unrealized in the areas of power generation, transmission and distribution. He appraised the delegation in detail on the projected increase in the power consumption keeping in view the Grass Domestic Product (GDP) growth especially after operationalization of China Pakistan Economic Corridor (CPEC).
A representative of ACWA in the Saudi delegation offered their institutional capacity, especially in the power generation areas and offered to engage with Pakistan in long term projects aimed at ensuring the economic and sustained power supplies. He further added that they are interested in the areas of renewable energy and establishing water desalination plants.
Besides, trade and investment relations between the two brotherly Islamic countries need to be enhanced in tandem with their long established and time-tested ties. For this, both sides agreed to work hard and pave way for a broad partnership to maximally exploit the opportunities arising in the region.
The Adviser assured that Pakistan has made necessary preparations so as to make the stay of Saudi delegation productive in Pakistan. He also thanked the Saudi delegation for arranging the delegation to Pakistan within the shortest possible period after the meeting of Prime Minister of Pakistan with His Majesty the King of Saudi Arabia held about two weeks back.
Head of the Saudi delegation thanked the Government of Pakistan for their hospitality and cooperation in paving way for enhanced bilateral cooperation in the field of trade and investment. He showed his intentions to finalize the framework for flow of investment to Pakistan from Saudi Arabia in mega projects.