Shehbaz Sharif arrives in Doha after KSA trip. Calls for strong Pak-Saudi partnership. Meets Vietnamese counterpart on sidelines of 8th Future Investment Initiative conference.
RIYADH/ISLAMABAD - The Kingdom of Saudi Arabia on Wednesday announced to add another $600 million to its recently announced $2.2 billion investment in Pakistan what the Saudi Investment Minister called “only the beginning of something very special.”
The announcement was made in a joint press stakeout by Prime Minister Shehbaz Sharif and Saudi Investment Minister Khalid bin Abdulaziz Al Falih, following their “very productive” meeting encompassing the bilateral cooperation in multiple sectors including trade, finance, agriculture, technology and skilled manpower. At the invitation of Saudi Crown Prince Mohammed bin Salman, the prime minister is currently on a two-day official visit to Saudi Arabia where he addressed the 8th edition of the Future Investment Initiative (FII) on ‘Infinite Horizons: Investing Today, Shaping Tomorrow.’ held in Riyadh and joined by the global leaders to discuss how investment could serve as a catalyst for a prosperous and sustainable future.
Accompanied by Advisor at the Royal Court Mohammad Maziad Al-Tuwaijri, Saudi Minister Al Falih told the media that during his recent visit to Pakistan, both sides had signed 27 MoUs for investment worth $2.2 in Pakistan.
He announced that following Prime Minister Sehbaz’s meeting with Crown Prince and their discussion, the number of MoUs has been increased from 27 to 34 to add $600 million in investment, taking its volume to $2.8 billion.
Prime Minister Shehbaz said the meetings with the Crown Prince and Al Falih were reassuring and told the media that some of the projects agreed upon during the recent Saudi delegation’s visit were under implementation.
He said both sides would work on the time-lines of the project and expressed the hope that under the leadership of Saudi crown prince, both sides would strengthen bilateral relations, not only for the benefit of the people of Pakistan and Saudi Arabia but the entire Muslim Ummah.
“When I come back, I will have good news for the people of Pakistan and Saudi Arabia. With your valuable support, we will be able to carve our way forward and soon be able to make big announcements,” the prime minister remarked.
Minister Al-Falih said that as a follow-up of their Pakistan visit, both sides had “extensive” working-level meeting to elevate the bilateral relations to yet higher horizons in the fields of economy, finance, trade and people-to-people contacts. He said that some of the MoUs had resulted in exports from Pakistan in agriculture and other fields. He also expressed the Saudi government’s willingness to import Pakistan’s skilled workforce as he said the world was looking towards Saudi Arabia becoming a key driver in digital technology and artificial intelligence.
Prime Minister Shehbaz also expressed gratitude to the Saudi leadership for support to Pakistan which was critical to achieving the IMF program. He said with the commitment and collective efforts by the government and the support from the brotherly countries, Pakistan would march towards economic progress and prosperity. He also thanked 2.5 million Pakistani expatriates for contributing to Saudi development and assured that Pakistan would make efforts to prepare a skilled workforce to meet Saudi requirements to contribute in a big way to the Kingdom’s development programme.
‘Pak-Saudi economic partnership’
Prime Minister Shehbaz Sharif on Wednesday met with the Saudi Investment Minister Engr. Khalid bin Abdulaziz Al-Falih and Advisor at the Saudi Royal Court Mohammad Bin Mazyad Al-Tuwaijri wherein he called for continuing the momentum to create new opportunities for developing strong economic partnership between two countries.
In the meeting held on the sidelines of the Future Investment Initiative held here, both sides reviewed the progress that has been made on various economic initiatives between two countries.
Prime Minister Shehbaz Sharif thanked Minister Khalid Al Falih for his efforts and commitment towards strong economic cooperation with Pakistan. He underscored the need to benefit from tremendous economic opportunities for both countries that have emerged in the backdrop of Saudi Arabia’s Vision 2030. Recalling the Saudi investment minister’s recent visit to Pakistan on October 09-11 along with a large private sector delegation, the prime minister noted that the B2B MoUs signed in Pakistan during the visit had started to materialize into solid investment and commercial deals. Prime Minister Shehbaz Sharif was on a two-day official visit to Saudi Arabia to lead Pakistan’s delegation to the 8th edition of Future Investment Initiative in Riyadh on 29-30 October.
PM arrives in Doha on two-day official visit
Prime Minister Shehbaz Sharif on Wednesday arrived in Doha on two-day official visit at the invitation of Amir of State of Qatar Sheikh Tamim bin Hamad Al Thani.
At the airport, the prime minister was received by Qatari Minister of State Mohammed bin Abdulaziz Al-Khulaifi, Pakistan’s ambassador and other diplomatic staff, PM Office Media Wing said in a press release.
Federal ministers Khawaja Muhammad Asif, Mohammad Aurangzeb, Jam Kamal Khan and Attaullah Tarar also accompanied the prime minister.
On his X handle, the prime minister said that he had just arrived in Doha at the invitation of Amir Sheikh Tamim bin Hamad Al Thani. “During this special visit, I look forward to a productive exchange of views with the Qatari leadership to further enhance our brotherly relations. I will also inaugurate a special exhibition at Qatar Museum highlighting the cultural heritage of Pakistan,” he further posted.
During his visit, the prime minister will hold bilateral meetings with Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar and Mohammed bin Abdulrahman bin Jassim Al-Thani, Prime Minister / Minister for Foreign Affairs.
Pakistan, Vietnam agree to expand trade, promote tourism
Pakistan and Vietnam have reaffirmed their commitment to strengthening people-to-people ties and promoting tourism between the two countries.
This resolve was expressed at a meeting between Prime Minister Shehbaz Sharif and his Vietnamese counterpart Pham Minh Chinh of Vietnam on the sidelines of the Eighth Future Investment Initiative Conference in Riyadh Wednesday.
During the meeting, the two leaders discussed ways to strengthen bilateral relations, particularly in trade and investment. Prime Minister Shehbaz Sharif expressed Pakistan’s desire to enhance its ties with Vietnam, while highlighting the immense potential of the two countries to increase trade and investment cooperation. He proposed an exchange of trade and business delegations between both countries to further explore these opportunities.
While appreciating Vietnam’s role in the ASEAN region, he sought support for Pakistan’s efforts to become a full dialogue partner of ASEAN.
Shehbaz Sharif also extended an invitation to the Vietnamese Prime Minister to undertake an official visit to Pakistan.
PM expresses sympathies with Spain over loss of lives in floods
Prime Minister Muhammad Shehbaz Sharif on Wednesday extended deepest sympathies and solidarity to the people of Spain and Prime Minister Pedro Sanchez over loss of lives due to floods.
“On behalf of the people and government of Pakistan, I extend our deepest sympathies and solidarity to the people of Spain and Prime Minister Pedro Sanchez following the tragic floods and loss of life. Our thoughts and prayers are with all those affected,” the prime minister posted on X handle.
He further said that Pakistan stood in solidarity with the friendly people of Spain at this challenging time.