A Saudi business delegation is set to visit Pakistan this week to discuss potential investments, which Islamabad hopes will follow a recent mutual defense agreement. Initial investment plans estimated at around $1 billion may emerge through a new fund, aimed at strengthening economic ties to reflect military cooperation. Under the defense deal, Pakistani forces are likely to be stationed in Saudi Arabia, with Saudi Arabia seeking protection from Pakistan’s nuclear arsenal.
The delegation, led by Prince Mansour bin Mohammad al-Saud, former governor of Hafar Al-Batin Province, will target sectors like technology, sports equipment, and food and agriculture, including a meeting with Pakistan’s Prime Minister Shehbaz Sharif. Pakistan is also looking for significant investments in state-owned enterprises and the development of a petrochemicals plant.
Experts believe that Saudi Arabia is willing to invest heavily in Pakistan, contingent upon economic reforms. Umer Karim from the University of Birmingham noted that Saudi Arabia wants Pakistan to show readiness for investment by improving its economic situation. Past Saudi commitments have fallen short, often hindered by issues like currency controls affecting profit repatriation. A Pakistani official acknowledged the need for institutional reforms. The potential Saudi investment will be closely monitored by India, which noted the importance of mutual interests in the region.
Pakistan’s High-Stakes Pitch: Turning a Military Alliance into Economic Gain
A Saudi business delegation is set to visit Pakistan this week to discuss potential investments, which Islamabad hopes will follow a recent mutual defense agreement.
