Pak signs MoUs with Saudi investors

Karchi: Pakistani entrepreneurs have signed several memorandums of understanding (MoUs) with investors in Saudi Arabia for setting up industries in agriculture, dairy farming, livestock, fisheries, food processing, manufacturing and power generation in Pakistan.

According to an information, these MoU have been signed at the largely attended “investment conferences” jointly held by the Government of Pakistan and the Finance Ministry of Saudi Arabia in Riyadh and Jeddah.

Investment conference at Jeddah was told that Al-Tuwairqi Group will expand its steel mills at Port Qasim with an additional investment of $1 billion while Samba Group of Saudi Arabia will streamline the projects in agriculture, dairy, power generation and livestock in Pakistan with the help of BOI.

Federal Minister for Investment and Privatisation Syed Naveed Qamar, who is leading Pakistani delegation, held meetings with Saudi trading and investment groups. Leading Pakistani businessmen were also present.

The minister invited Saudi business groups to invest in Pakistan as it was offering best investment opportunities. He pointed out that Pakistan’s private sector was also very active and mutual investment and trading cooperation between the private sector of the two countries will bring positive results.