Punjab unveils tax-free Saudi industrial estate to attract Gulf investment
Chief Minister Punjab Maryam Nawaz poses for a group photograph with members of the Saudi delegation during a dinner hosted in their honour at the historic Lahore Fort on Saturday evening. Photo: X
Punjab Chief Minister Maryam Nawaz has announced the establishment of a tax-free Special Saudi Industrial Estate in the province to strengthen foreign investment and expand economic cooperation between Pakistan and the Kingdom of Saudi Arabia.
The announcement came during a meeting in Lahore on Saturday with a high-level Saudi delegation led by Prince Mansour bin Mohammad bin Saad Al Saud, Chairman of the Pakistan-Saudi Business Forum. The delegation was briefed on Punjab’s key development projects and governance reforms.
The Saudi officials commended Punjab’s people-centric development agenda and ongoing welfare initiatives, while CM Maryam highlighted the wide-ranging investment opportunities, the province offers. The delegation expressed keen interest in various sectors including livestock, mining, infrastructure, meat processing, and information technology.
The proposed Saudi Industrial Estate will offer major incentives such as a ten-year tax holiday and a one-time customs duty waiver for imports related to the project. A special fast-track office will be established within the chief minister’s office to oversee implementation and ensure prompt facilitation.
In a bid to expand bilateral cooperation, the Punjab government also offered the services of the Punjab Mass Transit Authority to operate the Mashar and Maqdis Metro Trains in Makkah.
Maryam underscored the province’s commitment to a 'zero time to start' investment policy designed to eliminate all sorts of delays and accelerate project rollouts.
She said, “The public-private partnership framework enables large-scale collaboration in key sectors such as energy, agriculture, mining, logistics, and tourism.”
She proposed the creation of joint working groups between Pakistan and Saudi Arabia in priority sectors, supported by 30-, 60-, and 90-day roadmaps to promote practical cooperation and measurable outcomes.
The chief minister also highlighted that Pakistan’s first Central Business District was being developed in Lahore, reflecting the government’s broader vision for modernisation and economic transformation.
Expressing profound gratitude for last month’s historic defence pact signed between Pakistan and Saudi Arabia during Prime Minister Shehbaz Sharif’s visit to the Kingdom, Maryam said, “This agreement — where any aggression against one will be considered an aggression against both — embodies a shared resolve to safeguard peace, stability, and the holy cities of Islam. For us, protecting Makkah and Madina is not only a strategic duty but an eternal honour and a deeply celebrated spiritual obligation.”
Reaffirming Punjab’s role as the economic backbone of Pakistan, she invited Saudi investors to become part of the province’s 'transformative journey of development and prosperity'.
Highlighting the role of the Special Investment Facilitation Council (SIFC) and the Punjab Business Facilitation Centre, the chief minister said investors benefit from streamlined one-window approvals, transparency, and fast-track implementation.
“Under the SIFC and our provincial facilitation mechanisms, we ensure that investment processes are seamless,” she noted. “We invite our Saudi brothers to seize this opportunity and become partners in Punjab’s journey towards shared prosperity.”
Maryam said, Punjab is entering a new era of investment, opportunity, and innovation, powered by a youthful and skilled workforce.
“We hope Saudi investment and Punjab’s hard work will together script chapters of progress that future generations will take pride in.”
Prince Mansour thanked the Punjab government for its warm hospitality and reaffirmed the deep-rooted brotherhood between Pakistan and Saudi Arabia.
“It is truly our honour to be here in Punjab. We thank you for your hospitality, your efforts in organising meetings, and the warmth extended by your people,” he said. “We feel as though we have returned home — it’s a feeling that leaves us speechless. We have always stood together.”
The prince said Pakistan was a brotherly nation and that the delegation’s visit was aimed not only at exploring investment but also supporting its Pakistani counterparts.
“There are many sectors where we can work together — whether with the government or private sector,” he said. “After our meeting with His Excellency the Prime Minister and hearing his address, many Saudi businessmen felt, for the first time, the depth of respect and the eagerness for practical Saudi-Pakistani cooperation.”
He announced that the next phase of the strategic initiative will involve the transition of operations from Madina to Pakistan and the projects will be carried forward under the banner of the 'Made in Madina' vision.
“This vision is a symbol of unity and progress for the Muslim world,” the prince said. “Products manufactured in Pakistan under the partnership will be exported to Muslim countries and other international markets.”
The delegation expressed interest in exploring investment opportunities in Punjab’s mining sector, noting that they would conduct a thorough review of its potential.