Pakistan and Saudi Arabia Renew Commitment to Bolster Economic Ties

Pakistan and the Kingdom of Saudi Arabia (KSA) have renewed their commitment to bolster economic ties in diverse fields, including agriculture, construction, livestock, and the social sector.

This commitment to strengthen economic relations was reiterated in an exclusive meeting organized by the Punjab Board of Investment and Trade in honour of a high-profile Saudi delegation visiting Punjab.

The Saudi business delegation was led by Chairman Saudi-Pak Business Council Fahad Bin Muhammad Al-Bash and members of the Saudi Business Chamber. Secretary Industries & Commerce Punjab Dr. Javed Ahmed Qazi, CEO of Lahore Central Business District Development Authority (LCBDDA) Imran Amin, CEO Punjab Board of Investment and Trade (PBIT) Ahmer Malik, and other industry leaders of Punjab were also present at the occasion.

Dr. Ahmed Javed Qazi said that the “government is dwelling to facilitate and create an atmosphere of ease for the business community. The social-economic indicators indicate the canvas of the economic growth of Punjab is massive. We would like to promote public-private partnerships and B2B linkages with Saudi Arabia. The major significant feature of doing business in Punjab is its skilled workforce”.

He continued, “We have 10 economic zones in the province and are rapidly multiplying it, the government has made the firm registration process as easy as plug and play. All these traits of healthy and easy business are feasible for international investors”.

Imran Amin briefed the delegation on the most anticipated first-ever business district of Pakistan — the Central Business District (CBD) Punjab. He highlighted potential business opportunities for international and domestic investors in CBD Punjab and said that KSA has been a close ally of Pakistan in terms of business collaborations.

“The Saudi business community has always welcomed investment opportunities in Punjab. [The] authority is striving to establish a well-equipped business district meeting international standards to accelerate the pace of economic development of Punjab. CBD Punjab has emerged as a game-changer for the development of the province and I will request the international and especially the Saudi business community to come forward and unlock avenues for new horizons of Pak-Saudi bilateral business relations,’’ he commented.

Chairman Saudi-Pak Business Council said that the “Saudi and Pakistani business communities are not two separate entities, these are two brothers and this meet-up is a family reunion. Punjab is a land of opportunities with immense potential for growth. I am pleased to know that the people of Punjab are extraordinarily talented and skilled. There are two million Pakistanis working in various fields in Saudi Arabia and playing a pivotal role in Saudi economic development”.

“It is clearly visible in the presentations that the province of Punjab is a room full of possibilities especially projects like the Central Business District and Ravi River Front can be materialized for government to people, government to government and people to people business collaborations for mutual growth of both countries,” he added.

The Saudi delegation showed a keen interest in CBD Punjab which has already made its name in the real estate sector and is developing as a reliable name in the business community.

CBD Punjab has successfully managed to grab the attention of domestic and international investors. Investment in the district especially in areas like commercial, residential, health, tourism, and sports are the main catch for economic growth and development of Punjab.