$1bn deal on the cards as Saudi delegation to visit this week
A high-profile Saudi Arabian business delegation, led by Prince Mansour bin Mohammed Al Saud, will visit Pakistan this week to explore investment opportunities across multiple sectors.
The visit comes shortly after the signing of a historic strategic mutual defence agreement between Pakistan and Saudi Arabia — an accord that has further deepened bilateral relations between the two nations.
Investment worth up to $1bln expected
According to reports, the Saudi delegation is expected to announce an initial investment of up to $1 billion in Pakistan. The focus areas include technology, sports equipment, food, agriculture, and defense production.
The delegation is also said to be assessing potential investments in government institutions, petrochemical plants, and the Reko Diq project.
Sources added that Saudi investment may depend on Pakistan’s ongoing economic reforms, particularly those aimed at improving transparency and easing restrictions on profit repatriation for foreign investors.
Strengthened ties after Shehbaz-MBS huddle
The development follows Prime Minister Shehbaz Sharif’s visit to Riyadh on September 17, where he met Crown Prince Mohammed bin Salman at the Yamama Palace. Both leaders reaffirmed their commitment to strengthening economic, strategic, and Islamic ties.
