Saudi investors had expressed interest in seven major sectors in the special economic and industrial zones in Punjab.
Punjab Chief Minister Maryam Nawaz Sharif stated that a memorandum of understanding (MoU) had been signed regarding the investment upon the arrival of a delegation of the Pak-Saudi Joint Business Council in Punjab.
A ceremony to sign the Pak-Saudi MoU was organised in front of the Alamgiri Gate of Badshahi Mosque. The signing was witnessed by Chief Minister Maryam Nawaz and Pak-Saudi Joint Business Council Chairman Prince Mansoor bin Muhammad bin Saad Al Saud.
The sectors set to attract investment include real estate development and hospitality.
The delegation also expressed interest in joint ventures in healthcare infrastructure, besides expressing readiness to invest in the mines, minerals, transport, logistics and agriculture sectors. The chief minister said the government would also collaborate with Saudi investors for the development of livestock and aquaculture. She added,"Punjab is the best place to invest, we want to make the province an industrial hub by providing facilities and support to Saudi investors."
She highlighted that Punjab's natural and mineral resources are an economic treasure and the government wants to take full advantage of them.
The participants of the delegation expressed satisfaction as she vowed that the focal agency of the Punjab government would support Saudi investors and companies. She also agreed to adopt a fast track process instead of the traditional timeline-based system to effectively implement the Pak-Saudi investment agreement immediately.
Meanwhile, Chief Minister Maryam Nawaz condemned Afghanistan's unprovoked aggression against Pakistan, and paid rich tribute to Pakistan Army for bravely responding to Afghan aggression.
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