The leader of the Saudi delegation inaugurated the two-day Pakistan-Saudi Arabia investment conference on a good note by stating that Riyadh views Islamabad as a "suitable" place for investments.
The Deputy Investment Minister of Saudi Arabia, Ibrahim Almubarak, is leading a 50-person high-level trade delegation from Saudi Arabia to Islamabad to look into potential trade and investment opportunities.
In addition to establishing a new age of progress and prosperity for the people of both countries, the conference has been organized in light of decisions made during discussions between Saudi Crown Prince Mohammed Bin Salman and Prime Minister Shehbaz Sharif about the promotion of bilateral trade and investment.
During the ceremony, Ibrahim Almubarak stated that Pakistan is seen as "very suitable for investment" by Saudi enterprises. He also emphasized that the delegation's visit will present possibilities to strengthen economic connections between the two countries.
"We are returning to Pakistan after a prior visit. Pakistan is receiving more investment from Saudi Arabian enterprises and the government," the dignitary stated.
The dignitary noted that Saudi investors are interested in participating in a variety of areas in Pakistan, emphasizing the significant contribution made by Pakistanis to the Kingdom's growth.
Earlier, Finance Minister Muhammad Aurangzeb said that the government is committed to extending maximum support to the private sector in order to move the country toward export-led growth.
He stated that in order to boost different industries, the government is concentrating on attracting foreign direct investment.
In addition to stating that the country's foreign exchange reserves have increased to $9–10 billion, he stated that during the previous ten months, the local currency has remained steady and that inflation has decreased to about 17%.
Furthermore, he reiterated the finance ministry's dedication to supporting investors and traders.