ALBAWABA- During his visit to Pakistan, Saudi Arabia's Foreign Minister, Prince Faisal bin Farhan, announced a significant investment plan for Pakistan, targeting various sectors such as agriculture, mining, information technology, and aviation.
This move follows Saudi Arabia's recent commitment to expedite investments in Pakistan amounting to $5 billion.
Pakistan, grappling with foreign exchange reserve shortages and a balance of payments crisis, is actively seeking the twenty-fourth bailout package from the International Monetary Fund.
Meanwhile, the number of travelers passing through Saudi airports surged by 26% in 2023.
At a meeting chaired by Saudi Foreign Minister Prince Faisal bin Farhan and his Pakistani counterpart Shah Mahmood Qureshi, both countries discussed strategies to bolster economic cooperation.
The Saudi delegation, including high-ranking officials from the Ministry of Environment, Ministry of Industry and Mineral Resources, and the Royal Court, emphasized the importance of strengthening investment ties between the two nations.
The meeting also explored avenues for increasing bilateral trade, aligning with the mutual aspirations of Saudi and Pakistani leadership.
