Foreign investment in Pakistan saw a 48% rise in the first quarter of the current fiscal year.
During this period, Saudi Arabia and the UAE contributed a combined total of $26.8 million (approximately Dh98 million).
Pakistan’s efforts to streamline foreign investments were bolstered by the establishment of the Special Investment Facilitation Council in 2023.
This council, a joint civil-military initiative, aims to attract foreign capital to critical sectors like agriculture, mining, minerals, and tourism, according to Saudi news source Arab News.
The council was created as Pakistan navigated a severe economic crisis, which had brought the nation close to a default.
A $3 billion (Dh11 billion) loan from the International Monetary Fund in 2023 provided vital financial relief to stabilize the economy.
In recent diplomatic visits to Saudi Arabia and Qatar, Pakistan’s Prime Minister Shehbaz Sharif engaged in talks to enhance trade, investment, and energy partnerships.
In October, Pakistani and Saudi enterprises signed 27 agreements and memoranda of understanding valued at $2.2 billion (Dh8 billion), and during Sharif’s recent visit, the two nations agreed to expand this commitment to $2.8 billion (Dh10.2 billion).
Additionally, Pakistan aims to capitalize on its strategic location as a central trade and transit hub, connecting Central Asia to global markets and building economically beneficial relationships with Gulf nations.
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